Congressional Research Service, Made in China 2025: Issues for Congress, August 11, 2020

Excerpt:
China aims to advance its national development goals and future global economic position through industrial policies that seek global civilian and militaryleadership in advanced and emerging technologies. China’s policies feature a heavy government role in directing and fundingChinese firms to obtain foreign expertise and intellectual property (IP)in areas where the United States has strong comparative advantages(e.g.,aerospace, semiconductors, microelectronics and pharmaceuticals).

Made in China 2025 (MIC2025)—a broad umbrella industrial plan China introduced in 2015—seeks to boost China’s economic competitiveness by advancing China’s positionin the global manufacturing value chain, leap frogging into emerging technologies,and reducingreliance on foreign firms. MIC 2025 emphasizes technology advancement and innovation as drivers of growth and productivity, although the strategy looks to obtain foreign expertise to fill key technology gaps.The plan promotes diverse forms of state ownership and control and allowsChinese firms flexibility to access global markets, potentially obscuring the full extent of the role of the state. MIC 2025 calls for breakthroughs in 10 sectors and supports a range of sector-specific plans.