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Strategic pivot of stabilizing economic growth and adjusting economic structure

By Miao Wei (People's Daily Online)

11:09, August 12, 2012

The author Miao Wei is minister of China’s Ministry of Industry and Information Technology. (Photo Source: Xinhua)

The CPC Central Committee and the State Council have always attached great importance to the strategic status of the integration of informationization and industrialization in the process of China's modernization, whether it was on the 16th CPC National Congress, which proposed "to stimulate industrialization with information technology and promote informationization with industrialization," the 17th CPC National Congress, which proposed "to vigorously promote the integration of informationization and industrialization," or on the Fifth Plenary Session of the 17th CPC Central Committee, which explicitly put forward "to promote a deeper integration of informationization and industrialization." The integration of informationization and industrialization has been viewed as an important task on the new path of industrialization with Chinese characteristics, as well as a strategic pattern to push the industrialization forward.

Currently, the international and domestic economic environment becomes more complicated and the world's economic resurgence is faced with difficulty and twists. Some prominent conflicts and problems especially economic downward pressure still exist in the domestic economic operation. Therefore, actively developing a new generation of information technology industry and promoting a deeper integration of informationization and industrialization are especially important to maintain a long-term, stable and rapid economic development. It has become the strategic pivot of stabilizing economic growth and adjusting economic structure.

The new generation of information technology plays a great role in promoting economic growth. At present, the global informationization has a rapid development and the innovation of information technology is given a richer connotation. The deep integration of technologies, networks, applications and services continuously created new industrial patterns and business models, as well as brand-new demand for consumption and investment and economic growth points.

For example, with the integration of information technology and manufacturing technology, some emerging industries, including the applied electronic industry represented by automotive, medical and financial electronics and the green energy industry represented by the solar photovoltaic technology and semiconductor lighting technology, came into being. With the information technology's penetration in service sector, the emerging service industry based on information technology will become the mainstream industry. The extension, division and specialization of service-oriented industrial chain have given rise to a variety of new service patterns. These services will become a fast-growing element and an indispensable new economic growth point in the economic structure.

Industry is the mainstay of the real economy, and also the main battlefield for transforming the economic growth model and optimizing the industrial structure. Deep integration between informationization and industrialization will increase the Chinese industry’s technological value and economic benefits, reduce resource consumption and environmental pollution, bring China’s talent advantage into full play, and eventually greatly promote the country’s industrial restructuring and upgrading.

The adoption of such information technologies as knowledge engineering and management can help optimize the product development process, build a knowledge-based research and development platform, and improve creativity and innovation capabilities. Certain famous car manufacturers have built their own full-lifecycle integrated platform to facilitate product research and development. The adoption of such information technologies as data mining and business intelligence can improve manufacturers’ decision-making process and operating capabilities, and minimize the waste of resources. The adoption of such information technologies as lifecycle analysis can promote green manufacturing, improve resource utilization, minimize environmental pollution, and reduce energy consumption. The application of the Internet of Things, sensors, manufacturing execution systems, and comprehensive information processing in safe production as well as energy conservation and emissions reduction can coordinate and optimize companies’ economic and social benefits. For example, thanks to its energy management center, every ton of steel Baosteel produces consumes 724.7 kilograms of standard coal and 6 cubic meters of water on average, making it a leader in domestic industry in comprehensive energy saving efficiency.

Information technology with huge potential and strong spillover effects is of great strategic importance to the transformation of China’s economic growth model. In order to promote the deep integration between informationization and industrialization, the country should make efforts to foster the new-generation information technology industry and accelerate the formation of new economic growth points, to promote the construction of broadband infrastructure and meet the people's growing information network needs, to deepen the integrated application of information technology and boost the quality and efficiency of industrial development, and to promote informationization among small and medium-sized enterprises and increase the overall quality and vitality of domestic enterprises, especially small and micro-sized ones.

China will seize the opportunity of the new information technology and industrial revolutions to evolve from a “big industrial nation” to a “strong industrial nation,” as long as it continues to actively promote the application of new-generation information technology in various economic and social fields, and speeds up the deep integration between informationization and industrialization.

The author is the Party chief and minister of China’s Ministry of Industry and Information Technology.


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