CHINA-NPC: CHINA'S MIIT MINISTER SAYS CHINA WILL NEED ANOTHER 30 YEARS BEFORE IT CAN BECOME A TRUE MANUFACTURING POWERHOUSE
China’s Minister of Industry and Information Technology (MIIT) and Vice Chairman of the Economic Committee of the Chinese People’s Political Consultative Conference (CPPCC), Miao Wei was quoted by Caixin (March 8) as saying China will need another 30 years to become a true manufacturing powerhouse. He said despite its reputation as a major manufacturer, China’s actual capabilities are relatively weak. He said the major bottleneck holding back China is its reliance on other countries for many key components used by its manufacturers, especially high-tech components like microchips.
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