Minister: Made in China 2025 has broad application

Polices that support the Made in China 2025 strategy are applicable to all kinds of businesses, and domestic and foreign-funded enterprises are treated equally, said Miao Wei, minister of industry and information technology, on Monday.

"We will never export backward production capacity to other countries and regions when implementing the Belt and Road Initiative," Miao said at the 2018 China Development Forum.

According to Miao, significant steps have already been taken to promote cooperation between Chinese and foreign companies as well as universities when upgrading the country's sprawling manufacturing sector.

For instance, a joint lab was established between China's National Power Battery Innovation Center and the Canadian University of Western Ontario to do research on cutting-edge battery technologies for electric cars, Miao added.