China's Growth Plan Prompts Stricter Standards from China Suppliers and Manufacturers
With strong commitment to leveraging new industries and boosting domestic markets, China is implementing an ambitious five-year economic plan that transforms the export sector into manufacturers of value-added products.
PR9.NET May 16, 2011 - The plan to guide China's economic structure over the next 5 years will be pushing the nation's export industry to become top producers of valued-added products and companies with upgraded R&D capabilities.
Starting in 2011, China is entering its 12th Five-Year Plan, which illustrates the government's development goals, directions and strategies aimed at driving growth for the nation, which has surpassed Japan as the world's no. 2 economic powerhouse. Under this new plan is more emphasis on internal markets and domestic demand than ever before, including major industrial structures that will focus on added value. Such an ambitious move will surely lessen the number of manufacturers delivering sub-standard goods to the global marketplace.
Industry experts predict that the plan has long-term effects for International businesses such as those from the UK wholesale forum ( http://www.thewholesaleforums.co.uk/forum/china-sourcing/ ) that regularly source products from China suppliers and manufacturers. There are now proposed recommendations that will make suppliers and manufacturers in China highly competitive through modernisation of industrial systems and improvement on the manufacturers' core competitiveness.
New industries rising, going green
The five-year plan has identified seven chief strategic industries: energy saving and environmental protection; next-generation information technology; biotechnology; new energy; new energy vehicles; high-end equipment manufacturing; and new materials. These advancements are projected to contribute 8% of the nation's GDP by 2015. The massive scale of commercial opportunities created from this strategy will demand better output from home-grown enterprises. Buyers from abroad embarking on China sourcing will be benefiting from the vast potential of these growth areas in the coming years.
In addition, the plan is driving China suppliers toward the direction of producing environment-friendly products, manufacturing processes and energy. The government is expecting this policy to be implemented imminently, seeing more 'green' products in power supplies, chargers, rechargeable pile components for electric cars, wind turbine parts and many more.
In the future, buyers that are sourcing in China will see the country to be as diverse as communication platforms and renewable energy, and having a solid grasp of core technologies and standards. The plan overall serves as blueprint to strengthen the country's massive domestic market and to join in the creation of new business models for such industries.
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