Shortly after US President Donald Trump departed Beijing, China’s ruling Communist Party has called for strengthening the real economy – particularly manufacturing – to gain a competitive edge in the global economy.
An article in Qiushi, set to be published on Saturday, curated selections from past speeches by President Xi Jinping to reiterate “our economy was built on the real economy and it must continue to rely on it for the future,” state-run news agency Xinhua reported on Friday.
“At whatever stage of economic development we are, the real economy remains the foundation of our growth and the basis for gaining the initiative in international economic competition,” Xi was quoted as saying in the Qiushi article.
The article did not mention Trump’s state visit. Instead, it called for a greater focus on real-economy development and advancing new industrialisation. Manufacturing, it stressed, formed the backbone of the real economy while the country had to pursue technological breakthroughs to make the sector greener and smarter.
It also urged efforts to “consolidate leading positions in key industries and accelerate efforts to address gaps in areas critical to security and development”.
Beijing’s latest policy signal came after Trump was joined by 17 American business executives on his high-profile trip to Beijing – the wealthiest delegation of its kind to visit the country – underscoring Washington’s continued interest in China’s lucrative market despite strained bilateral ties.
