The report of the 19th National Party Congress stated that "China's economy has shifted from a high-speed growth stage to a high-quality development stage, and it is now in a critical period of changing the development mode, optimizing the economic structure, and transforming the growth momentum. It is urgent to build a modern economic system that crosses the juncture. The requirements and the strategic objectives of our development." China's economy is making great strides in this direction.
In the field of high-end equipment manufacturing, China not only achieved a series of important breakthroughs in the fields of aerospace, large aircraft, high-speed rail, CNC machine tools, and new energy vehicles, but also continued to rise in the international share of high-value-added industries. In the field of frontier manufacturing, Chinese companies have broken foreign monopolies, 5G applications, supercomputers, drones, and a number of new industrial clusters are emerging.
According to the latest data released by the National Bureau of Statistics, in November, China's equipment manufacturing and high-tech manufacturing PMIs were 52.9% and 53.2%, respectively, which were consistently higher than the overall level of the manufacturing industry, and their leading role in economic growth continued to increase.
High-end manufacturing injects new momentum into the real economy
The report of the 19th CPC National Congress explicitly pointed out that we must focus our economic development on the real economy; promote the deep integration of the Internet, big data, artificial intelligence, and the real economy; and promote the development of China's industries into the mid-to-high end of the global value chain and nurture several worlds. Advanced manufacturing clusters. This series of strategic layouts is closely related to the development of our company and proposes a highly directive policy direction.
“High-end manufacturing itself is the core of the real economy and an important part of the real economy.†Huang Zhilong, director of the Center for Trade Finance at Suning Financial Research Institute, recently told Securities Daily that the high-end manufacturing industry’s contribution to China’s economy is at least the following: Three aspects: First, the development level of high-end manufacturing is a symbol of a country’s real economy, especially the international competitiveness of manufacturing; Second, high-end manufacturing has a high general added value, and the output created by unit labor and capital input is also high. An important channel for raising the rate of return on capital and labor wages. Third is to improve the ability of the economy to resist risks. For example, Germany's high-end manufacturing industry is extremely developed. It takes the lead in recovering after the financial crisis and maintains its continued competitiveness.
It is also worth noting that a few days ago, the “China Industry Development Report: 2017†issued by the National Development and Reform Commission’s Institute of Industrial Economics, Technology and Economics pointed out that China currently has a relatively complete industrial system and strong manufacturing capabilities and is the only country in the world. With countries in all industrial categories in the United Nations Industrial Classification, a well-established industrial system is conducive to the efficient and convenient realization of industrial support in China's industries in the mid-to-high end process, increasing production efficiency and reducing supporting costs.
In this regard, experts believe that China’s manufacturing industry has already had a very good foundation and began to move toward becoming a manufacturing powerhouse, but at the same time, the service industry for service manufacturing is still not suited to the requirements of manufacturing powers. Therefore, we will base ourselves on the real economy. With the development of intelligent logistics as a breakthrough, it will create a modern supply chain system that integrates logistics services, informatization and intelligence, and financial services to help China's manufacturing move toward the high-end of the global value chain and serve the construction of a socialist modernized country.
Co-existence of opportunities and challenges
The "Made in China 2025" strategy was fully implemented, sounding the clarion call made by China toward a manufacturing powerhouse. In response to this, the industry generally believes that looking at the domestic and international situation, China's manufacturing has ushered in precious opportunities, but also faces new challenges.
Today, no matter which corner of the world you go to or which mall you go to, you don’t pay much attention to it. The goods you buy are “MadeinChina†(Made in China). The “global number one†of manufacturing industry volume is an important indicator of China’s overall national strength and an important source of power for China’s economic growth. However, behind this fact of pride, another harsh reality is that China’s manufacturing industry’s profit margin ranks the lowest in the world, and China’s manufacturing industry’s input and output are seriously out of balance.
Relevant data show that in 2016, the average profit rate of US manufacturing enterprises ranked among the top 500 in the world was as high as 12.2%. Although France was not listed first, it also reached 7.1%. China is the world’s largest manufacturing country, accounting for 25% of global manufacturing. China is also the world’s largest consumer market. However, the 245 manufacturing enterprises among China’s top 500 companies have an average profit margin of only 3.3%.
In this regard, Bai Ming, deputy director of the International Market Research Institute of the Ministry of Commerce Research Institute, said in an interview with a reporter from Securities Daily that although the manufacturing industry in China is complete, there are more repetitions at a very low level. Moreover, China's individual areas that are at the advanced level in the world rely mostly on state support and do not rely solely on market forces to become bigger and stronger. Therefore, the development mode of China's manufacturing industry needs to be changed. It is driven by investment from the past and driven by innovation. From the tactics of the seas, we have shifted our country's non-price competitiveness to create brand and technical advantages in the international market.
At the same time, Bai Ming also pointed out that there is still a gap between the development base of China's manufacturing industry and the developed countries. Therefore, we must focus on the advanced level of the international market and concentrate the dominant forces in the key areas of China's manufacturing industry to form an endogenous driving force. It is also necessary to actively introduce advanced foreign technology, to enhance the secondary innovation capability of China's manufacturing industry through digestion, absorption, and innovation, to narrow the gap between China and developed countries, to stand on a higher springboard, and to touch the core technologies of developed countries. In addition, we should also “go global†to strengthen international cooperation, upgrade the position of China’s manufacturing industry in the international arena, and use foreign investment in combination with domestic endogenous incentives to form positive interactions and make cakes through complementary advantages.
Strengthen Innovation and Drive New Economic Growth
From the successful test flight of the C919 large passenger aircraft to the world's No. 1 "Fuxing" high-speed rail for commercial transport speed, to the 5G that will soon lead the world... Currently, industries such as electronic information, rail transit, and communications equipment have thrived through innovation and drive for our country. The industry has provided strong support to the mid-to-high end of the world value chain.
The report of the 19th National Congress pointed out that innovation is the primary driving force for development. When it comes to the next step in which high-end manufacturing can innovate, Huang Zhilong said: First, high-end manufacturing companies must increase investment in scientific and technological research and development, not only to face the domestic market, but also to compete in the global market, and to cultivate globally leading competition. Strength and scientific and technological innovation capabilities; Second, policy-level governments at all levels must provide favorable policy environment for high-end manufacturing industries, such as reforming the tax system, increasing the deduction of scientific and technological R&D investment; for example, allowing enterprises to achieve independent management and giving High-end manufacturing company employees provide children with education, medical care and other safeguards; Third, nurturing high-end manufacturing companies in enterprise management capabilities and global market development capabilities, only a good incentive and constraint mechanism in parallel with the enterprise management system, can make high-end manufacturing companies to maintain long-term Competitiveness.
Liu Xiangdong, deputy researcher of the Economic Research Department of the China International Economic Exchange Center, said in an interview with a reporter from the Securities Daily that the development of high-end manufacturing must rely on scientific and technological innovation, especially new technology research and development, new process design, new product development, and new models. Applications, etc., while the core of high-end manufacturing is the research and development of new technologies, so the R&D investment and patent quality become the key to competition.
“The direction of high-end manufacturing in the future is to be intelligent, green, and networked. Therefore, key areas include intelligent terminal products such as robots, 3D printing, wearable devices, smart home appliances, and smart cars, as well as a new generation of information technology. In the modern industrial fields such as wood manufacturing, new materials, and bio-medicine,†Liu Xiangdong emphasized.
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