Manufacturing sector's road to success
By Liu Xingguo | China Daily | Updated: 2017-01-18 07:42
China is the most competitive manufacturing power in 2016, according to Deloitte research.
China's manufacturing output accounted for 22 percent of the world total in 2015, making it the world's top manufacturing country for six consecutive years.
But China's manufacturing sector lacks international competitiveness due to unsatisfactory progress on the innovation front. China ranks 13th among the 15 countries that are accumulatively responsible for 70 percent of the world's overall manufacturing output; it lags far behind developed countries such as Japan and the United States. The value-added rate of China's manufacturing sector is estimated to be 21.5 percent, while it is more than 35 percent in developed countries.
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