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"Made in China 2025" is aimed at transforming the country into a higher-tech manufacturing powerhouse by 2049, the centennial anniversary of the people's republic. (Source photos by AP, Reuters and Getty Images) 
Business Spotlight

'Made in China 2025' thrives with subsidies for tech, EV makers

Handouts go on but local government cash crunch adds new factor

KENJI KAWASE, Nikkei Asia chief business news correspondent | China

HONG KONG -- Seven years after Beijing launched its "Made in China 2025" plan to boost cutting-edge manufacturing in the country, the term has virtually disappeared from public discussions and official documents.

But the policy itself has not died. It actually survives and thrives through government subsidies, which continue to be directed at favored companies such as electric vehicle manufacturers and chipmakers even as pressures mount on local government finances across China.

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