Abstract
The research takes Taiwan's machine tool industry as the research subject, and gains an insight into the possible impacts of “Industry 4.0”, “Belt and Road Initiative” as well as “Made in China 2025” on the development of machine tool industry in Taiwan. Lastly, it is hoped that the machine tool makers in Taiwan will be able to develop and grasp market trends in line with their needs and the status quo in order to achieve direct and indirect operational results. Based on the research results, this research will propose conclusions and provide relevant recommendations on specific and substantial business improvement and policy formulation for the machine tool industry, relevant government agencies and academic research.
Highlights
At the conclusion of the 19th CPC National Congress, Chinese President Xi Jinping emphasized on deepening the supply-side structural reforms, constructing a modernized economic system, putting the focus of economic development on the real economy, taking the improvement of the supply system quality as the main direction and continuing to focus on the Belt and Road Initiative
The Belt and Road Initiative is both the "Silk Road Economic Belt" and the "21st Century Maritime Silk Road.", whi ch is a concept of economic cooperation proposed by Xi Jinping in 2013 and has become China's major economic strategy as the transnational economic belt (Chao and Wu, 2015)
With the help of an established and effective regional cooperation platform, it is aimed to take over the historical symbol of the "Silk Road" in order to hold high the banner of peaceful development and proactively develop economic partnership with countries and regions along the route to jointly build a community of shared interests, common destiny and responsibility featured by mutual trust, economic integration and cultural tolerance (Chao and Wu, 2015)
Summary
At the conclusion of the 19th CPC National Congress, Chinese President Xi Jinping emphasized on deepening the supply-side structural reforms, constructing a modernized economic system, putting the focus of economic development on the real economy, taking the improvement of the supply system quality as the main direction and continuing to focus on the Belt and Road Initiative. China's Belt and Road Initiative is mainly aimed at establishing a platform for cooperation between China and other countries It connects the Asia-Pacific Economic Circle to the east and enters the European Economic Circle to the west to speed up the Chinese economic growth and transformation. The 10-year plan of “Productivity 4.0 Development Program” will initially give priority to the introduction of Internet of Things, intelligent robots and big data in the 7 major industries, including machine tools, 3C, metal processing, food, medical care, logistics and agriculture (BOST, Republic of China (Taiwan), 2015). With the “Productivity 4.0 Development Program” and its continued benefit from the trend of automation, if Taiwan's machine tool industry is integrated effectively with sound standardization and complicated system management, communication infrastructure and network security, it will advance toward “Industry 4.0”. Based on the research results, this study will propose conclusions and provide relevant recommendations on specific and substantial business improvement and policy formulation for the machine tool industry, relevant government agencies and academic research
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