Chinese manufacturers are poised to expand their global presence thanks to a string of policies supporting the export of high-value industrial capacity.
"Capacity cooperation means more than export of finished products, but also the transfer of the whole industrial chain to help other countries beef up their manufacturing capability," Gu Dawei, head of the foreign investment administration department of the National Development and Reform Commission, said at a press conference on Wednesday.
International industrial cooperation has been a key priority on the Chinese government's reform agenda after slower economic growth last year.
Chinese Premier Li Keqiang, a proactive supporter of industrial capacity cooperation, signed trade agreements worth 27 billion U.S. dollars during his visit to Brazil on Tuesday.[Special coverage]
More international industrial capacity cooperation projects are expected to roll out as China's cabinet specified a list of sectors in need of more cooperation last Saturday, encouraging manufacturers of automobiles, rail, machinery and others to go global.
READY TO FURTHER GO GLOBAL
China is now the world's largest manufacturing exporter, with total export volume reaching 14.4 trillion yuan last year. Mechanical and electrical equipments and high-tech products amount for 56 percent and 29 percent respectively.
Manufacturers in railway, telecommunication, power and machinery have gained more market share overseas thanks to their advanced technology and professional experience.
Developing countries in central Asia, Southeast Asia, South America and Africa are in great demand of emulative consumption products such as home appliances, laying the foundation for cooperation, Gu said.
