China on 25 September 2014 launched Made in China campaign to counter India. The launch of the campaign coincided with the launch of Make In India campaign.
The decision to launch the campaign was taken by Chinese cabinet headed by Chinese Prime Minister Li Keqiang.
China by launching Made in China campaign seeks to retain its manufacturing prowess through giving host of tax concessions.
In order to arm China with advanced technology and equipment, encouraging more competitive products with high added value, the Chinese cabinet asked government organs to implement the new measures as soon as possible.
Main Elements of the Campaign
Manufacturing sector of China had been a key driver of its economic growth and is globally competitive. With the launch of Made in China campaign a new round of innovation is believed to be spurred which will contribute to stabilising economic growth.
Further this will lighten burdens of enterprises in the real term and prompt the upgrade of outdated equipment.
Finally, it will help ease three aspects problems, viz., weak domestic demand and investment amid slowing economic growth, lagging equipment in manufacturing sector and low technical level of home grown companies.
What: Launched by China
When: 25 September 2014