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China Should Speed up Industrialization: Scientist
Despite its great achievements over the past five decades, China is still in the early stage of industrialization and more effort is needed to speed up the process, according to a noted Chinese scientist.
In an article published in the latest issue of the weekly magazine "Outlook", Song Jian, president of the Chinese Academy of Engineering, wrote that China has entered a completely new phase of development and stands at a crucial point when historical choices must be made.
It is very encouraging to note that the country has departed from the short-supply economy, ranking among the top countries in some major agricultural and industrial outputs, the leading scientist said.
For instance, China ranks as the world's top producer of steel, coal, cement, chemical fertilizer and televisions, and the second- biggest producer of electricity and chemical textiles. And over 95 percent of its agricultural and industrial products are over-stocked domestically.
However, "these are no reasons for us to feel content," the scientist said, adding that the country is still in the initial phase of industrialization and that the future work won't be easy.
Official figures show that China's productivity is quite low compared with the world's advanced levels. Most of the country's products are turned out with backward technologies, costing more energy and materials while lacking competitiveness in world markets.
While the low-end products are over-supplied at home, China yearly has to import over 140 billion US dollars-worth of products, ranging from high-end textiles to computer chips, said Song, who is also vice chairman of the National Committee of the Chinese People's Political Consultative Conference.
Song said that it is generally held in economic circles that industrialization is the prerequisite for modernization, especially in developing countries. And manufacturing is the major force behind industrialization,
"Without a powerful manufacturing capacity, a country will have no hope of becoming an economic power," the scientist stressed.
At present, China's manufacturing capacity lies mainly with the medium-sized and large State-owned enterprises. Therefore, it is of utmost importance that the country revitalizes the enterprises through upgrading of technology and efficiency, he wrote.
The author noted that the past five decades of development laid a solid basis for China's industrialization. However, it will take several more decades for the country to fully realize its industrialization.
With about one third of the country's gross domestic product being turned into fixed capital investment this year, it can be predicted that a large-scale industrialization drive will be carried out in the country in the new century, the scientist concluded.
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