Made in China 2025: An Industrial Powerhouse
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- On May 19, the State Council officially unveiled the long-anticipated “China Manufacturing 2025” master plan which aims to accelerate the transition of China from a large manufacturing country to a world manufacturing power.
- China will have an increasing market share of local IT hardware technologies for telecommunication equipment, mobile devices, and chipsets.
- By 2020 and 2025, the local industrial applications in China would account for over 30% and 50% respectively of the market. Also, there will be significant investments in the digital ecosystem.
- There will be a breakthrough of disruptive technologies (e.g. IoT, Robotics, and New Energy Vehicles) with market shares to grow by +15 to +20 percentage points in a five-year period.
- Made in China 2025 presents both opportunities and challenges to multinational corporations. IDC suggests five key essential guidance for technology vendors namely Market Expansion, Risk Mitigation of Governmental Security and Controllable, Enhance Competitive Advantage, Sustainable Ecosystem and Burden Release.