China’s evolving industrial policy: Lessons for Europe
22
Feb 2024
Brussel
Alicia Garcia Herrero
Robin Schindowski
Joanna Szychowska
Zaneta Vegnere
Max J. Zenglein
Jeromin Zettelmeyer
China has advanced significantly in upgrading its industrial prowess. The complexity of its domestic supply chains, years of learning by doing, combined with targeted support for strategic industries has led to Chinese brands being able to successfully compete in foreign markets, most recently in Europe. This has sparked a debate about whether the competitiveness of Chinese firms is best explained by unfair government support practices as opposed to domestic market forces.
Since “Made in China 2025” was launched in 2015, the central government has created a range of new funding schemes for the most important sectors, specifically in equity financing. Apart from that, government-led programs such as the Little Giants initiative have been launched to support the cultivation of the most promising small and medium-sized firms, vital for the basis of China’s manufacturing sector.
To shed light on this matter, Bruegel researchers and external speakers provide new insights into the history of industrial policy in China, and its latest evolution. Finally, we invite you to discuss with us how this affects Europe, and whether – or how – the EU should respond.
About the speakers
Alicia Garcia Herrero
Chief Economist for Asia Pacific at Natixis, Senior Fellow at Bruegel, Non-resident Senior Follow at the East Asian Institute, Adjunct Professor at the Hong Kong University of Science and Technology
Economist specialized in monetary and financial issues in emerging markets, banking crises and resolution strategies, financial development
Robin Schindowski
Research Assistant at Bruegel
Economist with a background in Chinese studies, specializing in China’s political economy and industrial organization
Joanna Szychowska
Director, Asia (I), Services and Digital Trade, Investment and Intellectual Property, European Commission, DG Trade
Zaneta Vegnere
Deputy Head of Cabinet, Cabinet Valdis Dombrovskis, European Commission
Max J. Zenglein
Chief Economist at Mercator Institute for China Studies (MERICS)
China’s macroeconomic development; international trade and investment; economic reforms
Jeromin Zettelmeyer
Director of Bruegel