China will take strengthening middle to high end industries as its main task for industrial transformation and upgrade in the 13th Five-Year Plan period (2016-2020), said a researcher with the Chinese Academy of Social Sciences (CASS).
Zhang Qizai, chief editor of CASS's newly issued industrial blue book, said exports of middle and high-end products account for about 65 percent of China's total exports, comparing to 69.11 percent in upper middle income countries and 81 percent in high income countries.
According to the blue book, the occupancy of made-in-China products on the global middle and high-end product market was 12.57 percent in 2010, which rose to 15.29 percent in 2014. The occupancy on the global low-end market was 21.82 percent in 2010 and 26.24 percent in 2014.
Among China's finished product exports, more than one-third are low-end products. The proportion is much higher than that for developed countries and also higher than the world's average level.
To boost industrial transformation and upgrade more efficiently, the blue book suggests China build an inclusive economic governance system, encourage enterprises to make fundamental and pioneering innovative studies, concentrate on making breakthroughs in core technology development, and establish departments and institutions that specialize in cultivating first mover advantages.
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