Chinese government hopes to create another five Lenovos by 2015

China Great Hall of the People

The Chinese government this week unveiled a set of objectives for its burgeoning electronics industry, as part of an effort to replicate the success that companies like Huawei and Lenovo have enjoyed in recent years. In a statement issued Tuesday, China’s Ministry of Industry and Information Technology (MIIT) said that by the year 2015, it wants the country to have between five and eight Chinese manufacturers with sales of at least ¥100 billion ($ 16.1 billion).

The agency also encouraged companies to actively pursue mergers and acquisitions as a way to more closely integrate supply chains and increase global competitiveness. The idea is to shift the industry’s focus away from lower cost supply chains, and toward higher end…

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