Michael
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- Jan 5, 2024
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Recently, the Ministry of Industry and Information Technology (MIIT) of the People's Republic of China released the “Guidelines for Equipment Renewal and Technological Transformation in Key Industrial Sectors”.
For details, please download the PDF file in the link (official Chinese original version)
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My Analytical Interpretation
1. This is a document on specific measures for industrial reform, and China will carry out large-scale reforms in the next few years on the contents of this document. China usually puts out some kind of guidance document to let most companies carry out the reforms in advance, and then when the time is right, it will use the decree to force out some backward companies. This document is a guiding document.
2. Those enterprises that are unable to reform according to the document will usually close down (switch to other industries) or move out of China. This is both an opportunity and a challenge for some of the more industrially backward countries in China's neighborhood. China has unleashed its garment processing industry to the outside world in previous years, allowing Bangladesh and Vietnam to develop their garment processing industries very well. This document is a catalog of industries that China will release to other countries in the future. Which countries can seize this opportunity?
3. The document was released in a very low-key manner and was not even widely discussed in China. For Chinese companies, whoever acts first prioritizes the high ground. For China's neighboring countries, whoever acts first will reap huge rewards in the future.
If your career relates to any of these, be sure to read the document carefully.
For details, please download the PDF file in the link (official Chinese original version)
============================================================
My Analytical Interpretation
1. This is a document on specific measures for industrial reform, and China will carry out large-scale reforms in the next few years on the contents of this document. China usually puts out some kind of guidance document to let most companies carry out the reforms in advance, and then when the time is right, it will use the decree to force out some backward companies. This document is a guiding document.
2. Those enterprises that are unable to reform according to the document will usually close down (switch to other industries) or move out of China. This is both an opportunity and a challenge for some of the more industrially backward countries in China's neighborhood. China has unleashed its garment processing industry to the outside world in previous years, allowing Bangladesh and Vietnam to develop their garment processing industries very well. This document is a catalog of industries that China will release to other countries in the future. Which countries can seize this opportunity?
3. The document was released in a very low-key manner and was not even widely discussed in China. For Chinese companies, whoever acts first prioritizes the high ground. For China's neighboring countries, whoever acts first will reap huge rewards in the future.
If your career relates to any of these, be sure to read the document carefully.
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