China's Industrialization Process: Stage, Feature, and Prospect

Becoming an industrialized country is a necessary requirement for the Chinese nation to realize great rejuvenation, and it is also an important economy connotation to achieve the “Chinese Dream”. This paper holds that after the past 30 years' the rapid development of China since adopting reform and opening up policy, China's industrialization has been in its late stage now. China's industrialization, so far, has been developing into a great nation with a population of over one billion, and is advancing rapidly. It is now facing a highly unbalanced regional development. It is also a low-cost and export-oriented industrialization. This kind of industrialization is unprecedented in all of human history. The prospects of China's industrialization are bright. China, developing normally, could accomplish industrialization in 2025 to 2030 at the latest. However, the industrialization process may not be smooth. After the financial crisis, the third industrial revolution and servitization in manufacturing have been important trends in the global industrialization process, which would make for smooth progress of China's industrialization more difficult, and increasing the need for strategic adjustment of China's industrialization.