This is a foundation for sustainable development – the scale of the manufacturing industry has ranked first in the world for 13 consecutive years, and the total industrial added value of China will break through the 40 trillion yuan mark in 2022. The continued growth of the real economy has enabled major countries to consolidate their capital and build up the yuan.

This is a competitive advantage that is constantly being built – accelerating the construction of a modern industrial system, continuously amplifying the first driving force of innovation, and continuously accumulating new driving forces to inject impetus into the realization of high-quality development.

Since the 18th National Congress of the Communist Party of China, China has taken the promotion of new industrialization as a key support for comprehensively building a great modern socialist country. We will strengthen, improve and expand the real economy, and accelerate the building of a modern industrial system with advanced manufacturing as the backbone. The industrial system is more sound, the industrial structure is better, and the integration of digital technology and the real economy is accelerating. Solid progress in the new type of industrialization has strengthened the Chinese economy and fostered new competitiveness.

We will focus on the real economy and take solid steps to modernize the industrial system

In August, the added value of industrial enterprises above designated size increased by 4.5% year-on-year, 0.8 percentage points higher than the previous month. Advanced manufacturing industries such as integrated circuits, optoelectronic devices, and new energy vehicles have increased significantly, highlighting the role of engines. It is precisely because of the continued recovery of industry that the basic plate of the Chinese economy has been firmly stabilized.

Industry is the foundation of comprehensive national strength and the “ballast stone” of economic development. The more complex and volatile external environment and risks and challenges we face, the more we need to build on this solid support.

The Party Central Committee attaches great importance to the development of the real economy, especially the manufacturing industry, clearly insists on putting the focus of economic development on the real economy, and deeply promotes the new industrialization.

Taking the manufacturing industry as the foundation, consolidating the advantages of the complete industrial system, accelerating the construction of a modern industrial system, and promoting the deep integration of information technology and industrialization, China’s position as a major manufacturing country has become more stable, and the pace of new industrialization has been accelerating.

Look at the fundamentals: from 2012 to 2022, China’s total industrial added value increased from 20.9 trillion yuan to more than 40 trillion yuan, accounting for 33.2% of GDP;

Look at the system: it has 41 industrial categories, 207 industrial middle categories, 666 industrial sub-categories, and more than 40% of 500 major industrial products rank first in the world;

Look at competitiveness: the output of new energy vehicles and photovoltaic has remained the world’s first for many years, 45 national advanced manufacturing clusters have been laid vertically and horizontally, the world’s largest 5G commercial network has been built, and innovative applications such as the Internet of Things and artificial intelligence have been continuously expanded.

From the implementation of industrial infrastructure reconstruction projects to enhance the resilience of industrial chains, to vigorously promoting major technology and equipment research projects to improve the core capabilities of the industrial chain, to guiding small and medium-sized enterprises to develop specialized and innovative, and shaping new growth drivers and new advantages for development, China has made building a modern industrial system that is independent, controllable, safe and reliable, and highly competitive a priority in promoting new industrialization. We will firmly strengthen the foundation of the real economy.

“Since the 18th National Congress of the Communist Party of China, the pace of new-type industrialization has accelerated significantly.” Jin Zhuanglong, Minister of Industry and Information Technology, said that the industrial scale has steadily grown, the industrial structure has continued to optimize, the digital green transformation has continued to advance, and the focus on new industrialization has continued to make efforts to consolidate the foundation of China’s economy.