Government-led industrial restructuring in China must change for economic transition success.
The article discusses the need for China to change its approach to industrial restructuring in order to achieve economic development goals. It suggests that the government should create conditions for market-driven structural adjustments, especially in the manufacturing sector. Failure to change the current approach may hinder economic transition. The focus should be on developing a modern market system, implementing market-driven industrial restructuring, and creating a favorable policy environment for promoting the services sector and industrial upgrading.