Читать книгу Global Manufacturing and Secondary Innovation in China - Xiaobo Wu - Страница 11

Since the Reform and Opening-up, China’s manufacturing industry has been developing very rapidly. After joining the WTO in the year 2000, China has achieved even faster growth thanks to accelerating globalization. Despite a temporary set-back in the 2008 financial crisis, China’s manufacturing industry surpassed that of the US in output value in 2010, making China the world’s largest manufacturing power. Now, with the steady slowing-down of China’s economic growth, China’s manufacturing industry has moved into the new norm of in-depth resource integration and structural rebalance. Challenged by the tapering cost advantages and the diminishing competitiveness of labor-intensive manufacturing industry, China’s manufacturing industry sets the priority strategy as industrial restructuring, transformation and upgrading to move up on the ladder of value chain. In the context of renewed economic globalization spearheaded by the ongoing new industrial revolution, how to leverage the advantages of being a great manufacturing power to secure the in-depth integration of industrialization and informationization, boost the companies’ technological innovation capabilities, and drive the transformation and upgrade of economic structure become a pressing question for China’s manufacturing industry. It is also the main topic on which this book intends to elaborate.