Xinhua | Editor: ZD | July 22, 2017:
BEIJING, July 22 (Xinhua) – Once known as the “world’s factory” for producing cheap goods, China is relentlessly moving into an advanced stage in manufacturing upgrades in a time when the real economy matters like never before.
Two years after China announced its “Made in China 2025” strategy, despite lingering pressure on overall industries, progress on new industries, mass innovation, and smart manufacturing are painting a new picture.
WINTER IS PASSING:
For many Chinese entrepreneurs, there have been hard times, especially when financing became difficult as the vibrant real estate market and financial sector attracted too much funding from investors.
Ge Zhengang, chairman of Longcheer, a smartphone producer in southern China’s Guangdong Province, said while innovation is vital for increasing profits, it requires financial support.
On the other hand, the higher costs of energy, labor, logistics and management have further weakened the profitability of manufacturing enterprises.
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