About twenty-five years ago, the People’s Republic of China adopted a new economic strategy—towards a market economy. Since then, China, the most populous nation on the planet, has become the largest growth engine for the entire world economy. This will remain true in the coming years. Although economic growth in China has recently slowed somewhat, with figures of between six and seven percent annually, the world’s second-largest national economy is still growing much faster than almost all the other important economic areas.
Which always makes it noteworthy when the Chinese government releases a new strategy for modernizing the country. “Made in China 2025” is their new master plan, partly inspired by Germany’s Industry 4.0 initiative. The long-term goal: by the middle of the twenty-first century, when the People’s Republic celebrates its hundredth anniversary, the country hopes to have risen to become the world’s leading industrial nation. No longer just the world’s production line, the country hopes to be earning a majority of its money with innovation and quality.
China has experienced a remarkable transformation and ascent in the past years. Therefore no one is going to underestimate its current economic ambitions. But for those who are confident and innovative in dealing with new technologies today and who seize the opportunities that result from digitization, among other things, there will be plenty of prospects for doing business with the future China as a “high-tech nation” in the years to come as well.