China will push forward the development of the basic electronic components industry to achieve breakthroughs in the next three years, according to an action plan released by the Ministry of Industry and Information Technology on Friday.

The three-year action plan said the breakthroughs are expected to be achieved in major sectors such as smart terminals, 5G and industrial internet, and the annual total sales of electronic components are expected to reach 2.1 trillion yuan (about 324.5 billion U.S. dollars) by 2023, according to the plan.

By the end of 2023, the competitiveness of advantageous products and industrial chains' safety and supply levels will be further enhanced, according to the ministry.

Specifically, the ministry said that patents of key products such as multi-layer ceramic capacitors (MLCCs) and optical fiber communication devices would be better leveraged to forge a batch of enterprises with competitive advantages in the global market.

A mobile phone contains more than 1,000 MLCCs, and a new energy vehicle uses more than 10,000 MLCCs.

China boasts a generally complete domestic supply chain of electronic components, but it has yet to reach an advanced international level in terms of technology and industrialization, said Yang Xudong, an official with the ministry.

The ministry said it will beef up policy support, encourage more investment including social capital in the industry and deepen international exchanges and cooperation. 

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