The recent Central Economic Work Conference underscored the imperative of steering towards a modernized industrial system through scientific and technological innovationThis gathering reiterated the pivotal role such a system plays in fostering new qualitative productivity, establishing a fresh developmental structure, and driving high-caliber economic growthThe expectation is that a robust technical foundation will be laid down, serving the broad economic ambitions of the nation.

A modernized industrial framework stands as a key indicator of economic modernizationEncompassing modern agriculture, advanced manufacturing, and contemporary service sectors, this diversified industrial system embodies crucial characteristics such as integrity, advancement, security, coordination, and opennessThe underlying objective is to ensure stability and security across the industry and supply chain, bolster independent innovation capabilities, and create a resilient and comprehensive supply chain

This will ultimately foster a high-quality and efficient industrial supply system.

Amid profound and complex shifts in the international economic and political landscape, competition between major powers has increasingly centered around industrial strength, where the modernized industrial system has emerged as the crucial determining factorIt necessitates solidifying foundational capabilities and leveraging existing advantages, fast-tracking the establishment of a modernized industrial systemThis strategic move aims to firmly control industry safety, economic stability, and national security.

At the heart of this new industrial framework lies advanced manufacturingChina's advanced manufacturing sector faces challenges such as technological evolution, changes in resource distribution, and shifts in global competitive dynamics, which highlight issues like insufficient innovation in critical areas and a lack of robust growth momentum

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Indeed, advanced manufacturing emerges as both a focal point and a challenge in developing a modernized industrial systemBuilding an effective institutional mechanism that emphasizes advanced manufacturing must prioritize scientific and technological innovation as a leader in this transitionThere is a need for a seamless integration of technological and industrial innovations to enhance capabilities in industrial technology, address technological shortfalls, expand existing strengths, and lay the groundwork for future advancements.

Strengthening and expanding advantageous industries is of utmost importanceChina has already established significant advantages in sectors like high-speed rail, photovoltaics, and 5G technologyThe production volumes for several pivotal products, including personal computers, mobile phones, home appliances, and solar panels, surpass half of the global market

It is critical to refine systems that elevate these leading positions within such fields, creating renowned products that represent “Made in China.” Supporting major enterprises in enhancing their capabilities while nurturing a group of world-class companies will be paramountThere will be a concerted focus on sectors such as construction machinery and rail transportation to develop world-class clusters in advanced manufacturing.

The cultivation and growth of emerging industries along with proactive planning for future industries are essential areas of focusEmerging industries represent the new pillars destined to lead future development, while future industries serve as critical levers in the next wave of technological revolution and industrial transformationOne approach is to explore establishing an inclusive and cautious regulatory framework that nurtures strategic sectors like next-generation information technology and artificial intelligence, ultimately fostering growth engines in areas like biotechnology and the low-altitude economy

Simultaneously, advancing efforts in cutting-edge fields such as humanoid robotics, the metaverse, and quantum technology while creating mechanisms for increased investment in future industries will be vitalThis requires the establishment of comprehensive incubation and acceleration policies, enabling significant projects to come to fruition.

The deep integration of the real economy with the digital sphere is deemed an inevitable requirementRecently, China’s digital economy has witnessed dual enhancements in both quantity and quality, with rapid accelerations in technologies such as artificial intelligence and 5G that have empowered the digital transformation of traditional industriesThis burgeoning synergy has stimulated new operating models and fresh sources of momentum, which are crucial for constructing a modernized industrial frameworkPrioritizing the deployment of information infrastructure and capturing the opportunities presented by the convergence of digital, networked, and intelligent operations will facilitate a profound fusion of the internet, big data, and artificial intelligence with the real economy

The aim here is to expedite the optimization and upgrading of the industrial system, paving the way for a modernized industrial framework that marries the digital economy with the tangible economic fabric.

Nevertheless, while striving to build this modernized industrial system, it is crucial not to overlook the transformation and upgrade of traditional industriesTraditional sectors form the foundational bedrock of a modernized industrial framework, accounting for over 80% of the manufacturing landscapeDeep efforts must be directed towards enhancing technological upgrades in enterprises and modernizing equipment, alongside promoting advanced applicable technologiesIt is essential to drive the modernization of processes and enhance product sophisticationFurthermore, advancing the deployment of digital and green technologies, implementing smart manufacturing projects comprehensively, and promoting eco-friendly manufacturing to bolster low-carbon development is critical