Sunday, 8 May 2016

China plans platforms to bring manufacturing and internet together

China aims to build internet platforms for manufacturing companies and third-party service platforms for small and medium-sized enterprises to boost mass entrepreneurship and innovation, said Xin Guobin, vice-minister of the Ministry of Industry and Information Technology, on Friday.

Xin said China wants manufacturing enterprises and internet companies to have better cooperation and combine manufacturing resources well with internet platforms.

Xin said State-owned enterprises are encouraged to set up innovation and investment funds and regional industry investment funds and social capital will also be brought in to support internet platform construction, innovative idea incubation and commercialization of research findings.

An executive meeting of the State Council presided over by Premier Li Keqiang on Wednesday made the decision to set up innovation and investment funds in addition to looking over the integration of internet and the manufacturing sector.