Читать книгу Global Manufacturing and Secondary Innovation in China - Xiaobo Wu - Страница 13

Since the Reform and Opening-up, particularly after joining the WTO, China has been actively integrating itself into the world economy, and fully leveraging its domestic and international market resources, to secure its lasting developments and achievements. Over the past three decades, China’s manufacturing industry has been constantly expanding its scale. According to the statistics of China’s National Bureau of Statistics and the World Bank, ever since 1990, the annual gross value added（GVA）of China’s manufacturing industry has been remaining at over 30% to China’s GDP (see Diagram 1-1), which is higher than the world average. Being one of the fastest growing economic sectors, the manufacturing industry has been serving as the engine of China’s high-speed economic growth, and the pillar of China’s national economy and national competitive strengths. For this reason, great efforts in developing the manufacturing industry are significant to the sustainable and steady development of China’s economy.

Now, as China’s economy enters into the “new normal” of economic development, which means a steady growth of moderate-to-high speed, China’s manufacturing industry is facing new challenges. The extensive mode of growth mainly relying on resource and investment expansion would no longer be a viable option. China’s need for restructuring, transition and upgrading of its economy is pressing. Given the chronically gloomy and sluggish world economy, it’s critical for China’s manufacturing industry to actively explore and find ways to revitalize the flaccid international market, materialize the industrial restructuring, improve the international competitiveness, and secure a healthy and stable development. This chapter will start with analyzing the status quo of China’s manufacturing industry participating in globalization.

Diagram 1-1 GVA of China’s manufacturing industry (% of GDP), 1990–2015

Data Source: China’s Statistical Yearbook issued by China’s National Bureau of Statistics in 1990–2015, and data from the World Bank’s website.