News & Updates

What is “Made in China 2025” and how would this impact foreign businesses active in China?

MIC 2025 plans to elevate the manufacturing capabilities of Chinese firms and aims to promote innovation, self-sufficiency in critical high-end materials, higher quality standards, and  “earth-friendly” technology.
Background
Initially disclosed by the State Council back in 2015, MIC 2025’s goal is to support Chinese manufacturing firms in their bid to “upgrade” their core competencies and transition into more value-added and higher technological capabilities.

According to economic information, a Xinhua-run publication, the initial investment was pegged at 100 Billion yuan (approximately 1.5 Billion US Dollars). There are around 25 projects that have been selected to be recipients of financial support ranging from 30 to 50 million yuan each. Key projects, on the other hand, will receive a heftier sum of 100 million yuan.
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