In July 2021 six major governmental institutions published together this Guideline that aims to boost the modernization of industrial value chains and further develop China’s manufacturing industry. The Policy Update explains how high-quality manufacturing enterprises are planned to be supported by the Guideline with a three-fold approach at its core. The Update shows the urgency of accelerating the development of high-quality manufacturing, since most companies still lack behind e.g. when it comes to profitability. Finally some of the measures and policy support mechanisms are listed in the document.