Zheng Yongnian says China must retain low-end industries for development
Updated
Updated · China Daily · May 6
Zheng Yongnian says China must retain low-end industries for development
4 articles · Updated · China Daily · May 6
The Chinese University of Hong Kong, Shenzhen dean said sectors such as rebar and cement remain vital to manufacturing and should not be discarded as China upgrades industry.
He argued high-tech and high-value-added industries still make up only a limited share of the economy and depend on coordination with traditional and mid-level sectors.
Zheng said China should keep strengthening the real economy, combine market efficiency with capable government, and raise gross national income as firms expand overseas under the Belt and Road Initiative.
As China champions 'new productive forces,' will its traditional industries be genuinely upgraded or simply left behind?
With a soaring fiscal deficit, can China truly afford its plan to dominate both high-tech and traditional industries?
Is China’s industrial self-reliance a defense against US pressure or a blueprint for global technological dominance?