East Asia and the Pacific
Over the past few years, China has achieved significant progress regarding opening up its market. Since 1997, the government has been constantly updating The Special Administrative Measures for Access of Foreign Investment (Negative List) and the Special Administrative Measures for Foreign Investment Access in Pilot Free Trade Zones (FTZ), making more and more industries available to foreign investment.
Many developed countries have seen a sharp increase in imports of Chinese products, and increased competition in international markets from China. China’s economy has grown rapidly due to export of work-intensive products to the rest of the world. Since the early 2000s, however, focus has shifted from merely being the world’s “manufacturing hub” to create an economic environment based on research and development.
Made in China 2025 (MIC 2025) is an industrial strategic plan, with which the chinese government wishes to turn China into a manufacturing superpower within 2025. The plan stretches from 2015 to 2025, with the biggest target industries being automotive, aviation, machinery, robotics, high-tech maritime and railway equipment, energy-saving vehicles, medical devices and information technology. The inspiration for the initiative was found in Germany’s industry 4.0 plan, however the MIC 2025 is much more outwards oriented when it comes to transfer of technology and at the same time very restrictive and protective for the access to the domestic market.
China’s rapid economic development has increased the country’s dependence on energy imports within all domains of its energy mix – coal, oil and natural gas. Moreover, China has become too reliant on coal to meet its energy needs, which has caused major environmental challenges and spread pollution across China.
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