China Issues 13th Five Year Plan for Smart Manufacturing

On December 8, 2016, the Ministry of Industry and Information Technology of China (MIIT) issued the Smart Manufacturing Development Plan (2016 2020)( Plan), to support the Chinese smart manufacturing industrys development in the next five years. The Planaims to develop a batch of smart manufacturing key equipment with strong competitiveness to meet over 50 percent of the domestic market demand, and develop core supporting software to meet over 30 percent of the domestic demand, by 2020. As supporting measures, the Plan calls for implementing and perfecting existing government grant programs, tax incentives, and government procurement program, strengthening the cooperation between banks and companies, and expanding the companies direct financing, to support the development of the Chinese smart manufacturing industry.