The difference between China's manufacturing 2025" and the British "modern industrial strategy"

First, the British "modern industrial strategy"

(1) Background proposed by "modern industrial strategy"

The modern industrial strategy is a forward-looking measure formulated by the British government in the face of a new domestic environment and the Brexit context to boost the UK domestic economy and respond to economic turmoil after the Brexit. Currently, the UK is facing:

1. The British economy is “out of the real”

As an established industrial power, the UK once had a global leading industrial base. However, with the division of labor in the global industrial chain, labor-intensive manufacturing began to shift to developing countries with low labor costs, and the UK economy began to “disconnected from reality”, with manufacturing accounting for 15% of gross domestic product (GDP). %, while the service industry accounted for more than 70%. This kind of economic structure, which is highly dependent on the financial services industry, has severely damaged the British economy in the financial crisis, the European debt crisis and fiscal austerity policies, and the economic recovery has been slow to develop. At the same time, it also exposed the shortcomings of the industrial structure in the UK's economic development, the lack of a solid foundation for economic growth, and the weak ability to resist external risks.

2. The regional imbalance in the UK's economic development is growing

The gap between the North and South economic development levels in the UK is increasingly significant. According to the December 2016 data of the British Bureau of Statistics, the Gross Value Added per capita in London in 2014 was as high as 42,666 pounds, which is twice the per capita economic value added in the northern region, far higher than the national average of 24,958 pounds. At the same time, only the southern and southeastern parts of the UK are above average. In February 2017, the British Bureau of Statistics data showed that London was the most productive LEP in the UK in 2015, 31% higher than the UK average. The six LEPs with the highest per capita economic value added are located in the southeastern part of the UK, in the north of Stockton. LEP has the lowest productivity and is 20% below the UK average. The further widening of the economic gap between the North and the South is an urgent problem for the British government to boost the local economy.

3. The productivity gap between the UK and other developed countries has widened

In the fourth quarter of 2016, the UK employment rate was 74.6%, the highest in history; the unemployment rate was only 4.8%, the lowest since 2005. However, in 2016, the UK's economic growth was 1.8%, lower than the expected economic growth rate, and lower than Germany's 1.9% economic growth rate, losing the title of “the fastest growing economy in the G7 countries”. At the same time, the income growth of British residents is also lower than expected, the employment rate and income growth slow down, and the growth rate of per capita income is lower than the overall growth rate of GDP. This is mainly due to the fact that the value created by the British labor force per hour is still lower than that of the same developed countries. In addition, the German "Industry 4.0" strategy and the US "Advanced Manufacturing Country" strategy will further widen the productivity gap between the UK and Germany and the United States.

4. The UK is facing huge "Brasi" pressure

In June 2016, the United Kingdom decided to leave the European Union through a referendum; on March 29, 2017, the British government sent a letter to the European Union, officially opening the UK “Brexit” procedure. The biggest difficulty facing the UK after the Brexit is that the financial industry will be hit. Its main performance is that the era of free entry of financial institutions in London into the EU market will end, and its role as a global financial institution to enter the European market will end. This will face tremendous pressure on the UK, which is dominated by the financial industry. At the same time, the number of foreign-invested British companies has decreased by 30% since June 2016. In 2016, the number of foreign-invested foreign-invested companies fell from 1,187 to 1002, a decrease of 16%. This has put tremendous pressure on the economic development of the UK after the "Brexit".
It is against this background that in January 2017 the British government proposed the “Modern Industrial Strategy”, which aims to improve the living standards and economic growth by improving national productivity and promoting growth, and revitalizing the British economy after Brexit. At the same time, the British government hopes to rely on the "modern industrial strategy" to reverse the UK's highly dependent industrial structure of financial services, improve labor productivity, and lay the leading position of British industry in the world.

(2) Main contents of "modern industrial strategy"

On January 23, 2017, the British government officially released the Green Paper on Modern Industrial Strategy, which aims to improve living standards and economic growth by increasing national productivity and promoting growth. The plan covers ten key areas, including increasing investment in research and innovation, upgrading skills, upgrading infrastructure, supporting start-ups, improving government procurement systems, encouraging trade, attracting overseas investment, and improving energy supply efficiency and green development. Cultivate the world's leading industries, drive national economic growth, create appropriate institutional mechanisms, promote industrial agglomeration and local development, and propose new initiatives for key areas.
Investing in research and innovation, the UK government has stimulated the potential of local entrepreneurs by launching the “Industrial Challenge Fund” to promote innovation with user experience as the driving force, focusing on battery technology, energy storage technology and network technology.
To upgrade skills, the UK government will create a technical education system for young people in unaccompanied countries and invest £170 million to build a group of reputable technical institutions to meet the needs of upgrading industry skills.
Infrastructure upgrades, the UK government balances the economic development between the North and the South with infrastructure construction, plans the future infrastructure investment, and fully utilizes the economic agglomeration effect to solve the problem of weak productivity in some parts of the country.
Supporting start-ups, the UK government will work with commercial banks to provide preferential policies for companies with financial difficulties in the North. Focus on supporting the development of SMEs, and use the B2B rating and feedback platform to provide business consulting and support services for SME cooperation.
To improve the government procurement system, the UK government will introduce a “balanced scorecard” approach developed by the Cabinet Office and will attempt to design and collect different opinions on supplier feedback in public sector procurement.
Encouraging trade and attracting foreign investment, the UK government will strengthen new trade relations with countries such as Canada, China, India, Mexico, Singapore and South Korea, and provide political support for corporate overseas bidding through the establishment of new government teams, and implement more strategic Foreign investment means.
To improve energy supply efficiency and green development, the UK government will announce emission reduction plans in 2017, develop a long-term roadmap for energy supply, and review newly established battery technology, energy storage and grid technology research institutions. At the same time, further reduce the cost of offshore wind power.
To nurture the world's leading industries, the UK government is prepared to work with sectors with strong leadership, with a focus on pioneering industries such as life sciences, ultra-low emission vehicles, industrial digitalization, nuclear industry, and creative industries.
Driving national economic growth, the UK government will use additional infrastructure funds to unlock regional growth; promote economic growth by improving major infrastructure; support innovative businesses across the country by creating competitive new R&D funds; Ministerial Forum" and so on.
Create appropriate institutional mechanisms, promote industrial agglomeration and local development. When appropriate, the UK government will maximize the role of large enterprises by formulating new policies to support supply chain growth; identify priority investments, and Attracting investment advantages; giving local governments greater freedom to support industrial growth.

Second, the similarities and differences between "Made in China 2025" and Britain's "modern industrial strategy"

Compared with the British “Modern Industrial Strategy”, China first proposed the “Made in China 2025” strategy in the 2015 “Government Work Report”. This is a major strategy made by the Chinese government in the new international and domestic environment to comprehensively improve the quality and level of China's manufacturing development. Its goal is to make China a manufacturing power with global influence. In order to better promote the strategic connection between "Made in China 2025" [2] and "Modern Industrial Strategy", the following analysis of the similarities and differences between the two:

(1) The similarities between "Made in China 2025" and "Modern Industrial Strategy"

“Made in China 2025” and “Modern Industrial Strategy” have the following common points:
1. Both focus on the driving role of innovation in industrial development "Made in China 2025" is to promote manufacturing innovation as the theme, promote the transformation from "Made in China" to "Created in China", and technological innovation is the core of manufacturing development Where. Technological innovation will drive the transformation and upgrading of traditional manufacturing, improve industrial production efficiency and product performance, and stimulate the development of strategic emerging industries. The British "Modern Industrial Strategy" also puts "increase investment in scientific research and innovation" in the first place, focusing on promoting the innovation and development of battery technology, energy storage technology and network technology, and opening up new growth points of industrial development.
2. Both are based on smart manufacturing. “Made in China 2025” focuses on smart manufacturing and realizes China's leading edge in smart manufacturing by developing and expanding emerging industries to meet the needs of social development. “Modern Industrial Strategy” is to create a good environment for emerging and growing companies, rather than to protect the original status of traditional industries and enterprises, especially in the field of intelligent manufacturing. In the key development areas, both put smart manufacturing in a very important position, not only in the scope of coverage, but more importantly in the field of in-depth research and development and application of intelligent manufacturing.
3. The ultimate goal of both is to establish the status of the world's leading industry. The goal of the “Made in China 2025” strategy is to achieve a manufacturing power through “three steps”: the first step is to enter the ranks of manufacturing powers by 2025; By 2035, China's manufacturing industry has reached the middle level of the world's manufacturing powers. In the third step, by the time of the founding of New China, the comprehensive strength has entered the forefront of the world's manufacturing power. At the same time, the goal of the UK's "Modern Industrial Strategy" is to achieve the goal of becoming the most competitive country in the global industry by establishing and expanding industrial superior technologies and industries, narrowing the gap in productivity across the UK.

(2) Differences between "Made in China 2025" and "Modern Industrial Strategy"

Although “Made in China 2025” and “Modern Industrial Strategy” have similarities in innovation drive, artificial intelligence development and ultimate goal, there are still some differences between the two:
1. The strategic basis of the two “Made in China 2025” is that the level of China's manufacturing industry is uneven. A considerable number of enterprises are still in the “Industry 2.0” stage, promoting the parallel development of Industry 2.0, Industry 3.0 and Industry 4.0. The only way to transform and upgrade China's industrial structure. As a veteran industrial power, the UK has a strong industrial base and industrial development has been in the transitional stage of 3.0 to 4.0. The "modern industrial strategy" is actually the re-industrialization of the UK and the establishment of a global industrial leading position.
2. The core main lines of the two are different. The core of the "Made in China 2025" is the integration of the two. At present, the new generation of information technology is profoundly affecting all aspects from value creation to value transmission, and deeply shaping the new manufacturing industry. [3] Therefore, accelerating the integration of the new generation of information technology and traditional manufacturing has become a key point in the transformation and upgrading of traditional manufacturing, and also the main line of the “Made in China 2025” strategy. The core of the UK's "modern industrial strategy" is investment. The British government hopes to increase investment in scientific research innovation, infrastructure upgrading, and labor skills training through government leadership, releasing economic vitality and stimulating economic development.
3. Different government functions in the implementation of the strategy “Made in China 2025” adheres to the principle of “market-led, government-led”, giving full play to the decisive role of the market in resource allocation, strengthening the dominant position of enterprises, actively transforming government functions, and strengthening strategic research and Planning guidance, improving relevant support policies, and creating a good environment for enterprise development; in the Green Paper of Modern Industrial Strategy, the British government clearly stated that “to promote the development of the industrial sector and ensure the economic dividend sharing nationwide in a more active role” . This shows that the British government has changed the economic policy of the original Conservative Party and will transform from the previous creation and development environment to direct government intervention and guidance for industrial development.

In summary, we can see that “Made in China 2025” is consistent with the core purpose of the UK “Modern Industrial Strategy”, both for the purpose of sharing the fruits of economic development across the country, all driven by a high degree of emphasis on innovation and high-end equipment manufacturing. industry. However, the specific strategic objectives, core lines and key areas of the two are slightly different. This kind of core consistency and specific forms of performance not only ensure the identity of the two, but also provide the possibility of differentiation and complementary cooperation, which lays a good foundation for the strategic docking of the two.

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