China Unveils Three-Year Plan for Electronic Components Industry

A three-year action plan issued on 15 January by the Ministry of Industry and Information Technology aims to bring China’s total sales of basic electronic components to RMB2.1 trillion a year by 2023. It also aims to develop a batch of electronic components enterprises with international competitiveness, with 15 of them posting annual business revenue in excess of RMB10 billion each.

The plan calls for:

• Steps to support stronger co-operation among businesses, universities and scientific research institutions to upgrade the electronics components industry’s innovation capabilities

• Improved application of electronic components in smart devices, 5G and industrial internet technologies and other key industries so as to develop products of use to emerging sectors such as artificial intelligence, the internet of things, and next-generation infrastructure

• Consolidation of supporting industries

• Overall upgrading of the industry

Source: Ministry of Industry and Information Technology