The assessment, released by the US-China Economic and Security Review Commission, evaluated China’s progress on the 10-year strategy, which was launched in 2015 to achieve self-reliance, innovation and technological prowess across strategic industries.
The congressional commission found that China missed its targets in sectors dominated by a small number of powerful global incumbents, where entry barriers – such as tight controls over specialised intellectual property – were high. It said the country did not meet all of its goals in chips and commercial aviation, for example.
“In foundational semiconductors, China fell short of its policy targets but still significantly expanded its manufacturing capabilities and its domestic and global market share, with Chinese production capacity growing more than four times faster than global demand between 2015 and 2023,” according to the report.
It examined 12 sectors in total: semiconductors, high-end computer numerically controlled tools, robotics, agricultural equipment, new materials, aviation, space-related targets, maritime engineering equipment, advanced rail equipment, new energy vehicles, electrical equipment and biopharma.
Highlighting the role of state support over the past decade, the authors concluded that China has become “more innovative, has moved up the global value chain, and has solidified its status as a global manufacturing powerhouse”.