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With the rapid growth of China’s smart manufacturing market in recent years, ARC Advisory Group receives many questions from our clients about this market, especially about the extent and impact of government subsidies.
Smart manufacturing is just one element of “Made in China 2025,” a national strategy initiated by China’s government in 2015. In addition to smart manufacturing, Made in China 2025 also encompasses technology innovation, development of core components and materials, and other elements. Clearly, while not the sole focus of the strategy, Made in China 2025 has helped to boost smart manufacturing, IIoT, and automation in general within the country.
How Does China’s Government Subsidize Smart Manufacturing?
Both the Central Government and many regional governments in China help subsidize smart manufacturing initiatives, but in different ways. Both have dedicated funds to help manufacturers implement smart manufacturing for both greenfield and brownfield (upgrade) projects.
The MIIT (Ministry of Industry and Information Technology of China) oversees the smart manufacturing fund pool for the Central Government. Since 2015, government has supported two types of smart manufacturing projects: “smart manufacturing pilot demonstration projects,” and “smart manufacturing special projects.”
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Keywords: China, Government Subsidy, Made in China 2025, Smart Manufacturing, Multinational Company (MNC), ARC Advisory Group.