China's "Made in China 2025" Targets Misaddressed

This is a China news story, published by CNBC, that relates primarily to Huawei news.

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CNBC

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Technology

Where 'Made in China 2025' missed the mark

Summary

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90% Informative

China missed several key targets from its 10-year plan to become self-sufficient in technology.

China only attained clear technological leadership in shipbuilding, high-speed rail and electric cars.

Despite not making all "Made in China 2025 " targets, the country has advanced so rapidly, it's now a direct competitor with European and U.S. manufacturing in many aspects, the chamber said.

Huawei reported a 22% surge in revenue in 2024 , the fastest growth since 2016 .

The company spent 20.8% of its revenue on research and development last year , well above its annual goal of more than 10% .

The electric car race in particular has prompted a price war, with most automakers running losses in their attempt to undercut competitors.

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formal

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English

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