The Enormous Pace of Infrastructural Development

Tracy Dathe, Volker Müller and Marc Helmold
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Tracy Dathe: Macromedia University
Volker Müller: European Chamber of Commerce
Marc Helmold: IU International University of Applied Sciences

Chapter 3 in Business Opportunities and Risks in China, 2023, pp 21-38 from Springer

Abstract: Abstract A country’s infrastructure plays a crucial role in its industrial development. Since the introduction of ‘Reform and Opening-Up Policy’ in 1978, China achieved rapid infrastructure improvements with support from international organisations such as the World Bank. Especially after entering the World Trade Organization (WTO), China was integrated in the global supply chain and became widely known as the ‘world factory’. A specialty of the Chinese economic landscape is that the state-owned enterprises (SOEs) hold significant influence. Overtime, the economic strategy of the Chinese government has shifted the focus from low-cost production towards high-end manufacturing and services. One of the government’s most prominent long-term strategies in the pursuit of upgrading the nation’s manufacturing industrial system is known as ‘Made in China 2025’ (MIC). To achieve the economic objectives, the Chinese government has implemented policies to promote domestic innovations.

Keywords: China; Infrastructure; Economic reform; Opening-Up Policy; Made in China 2025; MIC25; State-owned enterprise; SOE; Transport; Telecommunication; Innovation policy (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:spr:mgmchp:978-3-031-31933-4_3

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DOI: 10.1007/978-3-031-31933-4_3

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