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By Zhou Yi & Zhao Changwen, Research Team on “China’s Strategic Options in the New Industrial Revolution”, Research Department of Industrial Economy, DRC

Research Report, No.183, 2018 (Total 5458) 2018-10-31

Abstract: Up to now, the world has experienced three industrial revolutions, each of which has greatly liberated and developed the productivity. The new round of industrial revolution is brewing, and China needs to get deeply involved and strive to take a leading position in the development of the new industrial revolution. In order to promote the new industrial revolution to take root in China, the following are the highlights of our future work. First, we need to deepen the reform in an all-round way, and let the market play a decisive role in the allocation of resources; allow all kinds of enterprises to participate in market competition fairly, and realize the full and free flow of labor, land, capital and other elements. Second, we need to formulate industrial policies reasonably, make regular evaluations and transform them in a timely manner. Third, we need to promote the new industrial revolution through the construction of social credit system, the cultivation of workmanship and entrepreneurship, and the improvement of product quality. Fourth, based on the government’s effective supervision system, we need to formulate and implement targeted policies to enhance the effect of policy supervision. Fifth, we need to further advance the opening-up strategy, strengthen global cooperation, and focus on facilitating overseas companies’ entry to China and Chinese companies’ expansion abroad.

Key words: the new industrial revolution, industrial policy, deepen reform, supervision