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The Enormous Pace of Infrastructural Development

In: Business Opportunities and Risks in China

Author

Listed:
  • Tracy Dathe

    (Macromedia University)

  • Volker Müller

    (European Chamber of Commerce)

  • Marc Helmold

    (IU International University of Applied Sciences)

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.

Suggested Citation

  • Tracy Dathe & Volker Müller & Marc Helmold, 2023. "The Enormous Pace of Infrastructural Development," Management for Professionals, in: Business Opportunities and Risks in China, chapter 3, pages 21-38, Springer.
    • Handle: RePEc:spr:mgmchp:978-3-031-31933-4_3
    DOI: 10.1007/978-3-031-31933-4_3
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