Facilitating Modernization of China’s Industrial and Supply Chains and Advancing Optimization and Upgrade of Its Economic System
Huang Qunhui
Senior Research Fellow
Director of the Institute of Economics
Chinese Academy of Social Sciences
In the “Communist Party of China Central Committee’s proposals for formulating the 14th Five-Year Plan (2021-2025) for National Economic and Social Development and the Long-Range Objectives Through the Year 2035”, to accelerate the development of modern industrial system and to advance economic optimization and upgrade are listed as the second key task of economic and social development and reform and opening up policy during the 14th five-year plan. Its core requirement of the task is to persist in taking the real economy as the focus of its economic development, to unswervingly build up its strength in manufacturing, quality and cyberspace and build a digital country, to advance its industrial foundation to a higher level and promote the modernization of its industrial chain, and to improve the quality, efficiency and core competitiveness of its economy. The specific tasks include five aspects: to facilitate modernization of its industrial and supply chains, to boost the development of strategic emerging industries, to accelerate the development of modern service industries, to advance infrastructure construction in a coordinated way, and to accelerate digital development. This article mainly focuses on how to understand about facilitating the modernization level of industrial and supply chains, which is the primary task of developing a modern industrial system and advancing economic optimization and upgrade.