The Chinese mainland has marked a significant year of transformation, showcasing robust progress in industrial upgrades and comprehensive institutional reforms, as detailed in a recent government work report.
High-tech manufacturing and equipment manufacturing sectors saw impressive growth, with added value increasing by 8.9% and 7.7% respectively. This surge highlights the mainland’s commitment to innovation and advanced technologies.
One of the standout achievements is the annual output of new energy vehicles, which has surpassed 13 million units, reinforcing the mainland’s position as a leader in sustainable transportation.
Institutional reforms have also made notable strides, with the completion of broad institutional overhauls and the introduction of major measures such as the establishment of a unified national market and a gradual increase in the statutory retirement age. These changes aim to enhance economic stability and adaptability in a rapidly evolving global landscape.
Furthermore, the lifting of restrictions on foreign investment in the manufacturing sector has opened new avenues for international collaboration and economic growth. The mainland continues to expand and upgrade its involvement in the Belt and Road Initiative, fostering enhanced trade and investment cooperation across participating regions.
These developments position the Chinese mainland as a dynamic force in the global economy, driving innovation, sustainability, and international partnerships.
Reference(s):
cgtn.com
