China unveils plan to steer economy toward high-quality development
Published: Feb 07, 2023 01:43 AM
Photo: VCG

Photo: VCG

China has unveiled a plan to steer its economy toward high-quality development as the country eyes a multi-faceted transition toward new strengths that center around technologies, standards, brands and services, according to the Xinhua News Agency on Monday.

The country aims to steadily boost the influence of Chinese brands by 2025, according to the plan jointly issued by the Communist Party of China Central Committee and the State Council, Xinhua reported.

The plan envisions a shift toward created in China from made in China, toward Chinese quality from Chinese speed, and toward Chinese brands from Chinese products.

Measures will be taken to make notable improvements to the quality and efficiency of economic development, increase the quality and competitiveness of industries continuously, and raise the quality levels of products, projects and services, per the plan.

It also sets goals for greater progress in brand-building, setting up more modern and effective quality infrastructure and fine-tuning the country's quality management system by 2025.

By 2035, China will have put in place a more solid foundation and developed an advanced culture for quality development, and its comprehensive strength as measured by quality and brands will hit a higher level, read the plan.

More specifically, it stresses supporting the development of common underlying software, industrial software, platform software and the engineering development of application software, which will enable breakthroughs in key technologies in the sphere of industrial quality analysis and control software.

To accelerate the upgrading of the industrial base, the plan intends to strengthen basic technology capabilities when it comes to innovation, standard development, measurement and testing, intellectual property rights and industrial data.

In a sign of steady growth in software and information technology services, major firms in the sector booked 10.81 trillion yuan ($1.59 trillion) in combined software revenues in 2022, an increase of 11.2 percent from the year before, data from the Ministry of Industry and Information Technology showed.

The sector's total profits jumped 5.7 percent year-on-year to 1.26 trillion yuan last year, the data revealed, and revenue from industrial software products rose 14.3 percent from 2021.

Additionally, cloud computing and big data services logged a gain of 8.7 percent in revenue last year from the prior year, while revenue from e-commerce platform technical services soared 18.5 percent, according to the data.

Global Times