China should have greater voice in industrial chain

Chinese companies should strive for a greater voice in upgrading the global industrial chain by means of accumulating knowledge and fostering ability, said Rui Mingjie, director of the Department of Industrial Economics at the School of Management of Fudan University at a symposium on China’s new industries, models and momentum. Commenting on ways to transform growth patterns and promote innovation in industrial development, he suggested China should upgrade its factor endowment level by establishing an industrial division system that fully utilizes China’s comparative advantages. In addition, China should establish a market basis for a new type of industrial system and structure through regional integration, reducing the resource dispersion and market segmentation that obstructs the formation of a favorable environment for industrial transformation and upgrading, he said.