China: Pursuing a New Type of Industrialization

The most important task of China’s economic construction is to carry out a new type of industrialization, aimed at creating the material and technical basis of industrial potential at an advanced world level. This is reflected in the country’s state economic policy aimed at building a modernized socialist state. The author’s focus is on the challenges that are the drivers of future industrial growth. Particular attention is paid to the development of scientific and technological innovations in several areas, the development of which should ensure that China promotes a new type of industrialization. The development of new and high technology zones, which contribute to the development and strengthening of a number of high-tech production clusters, is designated as one of the main priorities. The influence of foreign capital on the development of modern production is analyzed, namely the attraction of foreign equipment and technologies that contribute to the modernization of the main industries and increasing their competitiveness in the world market. The article draws attention to the formation of new conditions for the implementation of landmark projects with the participation of foreign capital.