The position of China's manufacturing industry in global competition has once again jumped up. After years of accumulation and continuous transformation, behind these changes, and with the existence of external pressures and internal challenges, the path and effectiveness of industrial upgrading need to be carefully observed.
New coordinates of the manufacturing power index
Data in the annual report show that the overall level of China's manufacturing industry is in the same range as Germany and Japan. This shows that China has entered the second echelon in the world in terms of comprehensive scoring considerations in terms of scale, quality, structure, etc. Since the index was first released in 2015, it has tracked the changes in China's manufacturing industry from large to strong in the past ten years.
In 2024, the index will be improved, thanks to many aspects. The external environment is complex and severe. Against this background, the manufacturing industry has withstood downward pressure and maintained development resilience. The evaluation system is scientific and sustainable, which makes it an important reference for international comparison and domestic policy formulation.
Innovation momentum continues to increase
The data shows that the innovative development trend of my country's manufacturing industry in 2024 is significantly different. The continuously increasing R&D investment is directly reflected in patent output and technological breakthroughs. The status of enterprises as innovation subjects is further consolidated in the field of market-oriented applied technology.
This kind of growth momentum is not an accidental situation. It is closely connected and inseparable from strategic guidance that requires long-term persistence. After integrating the science and technology plans and industrial policies implemented at the national level with market mechanisms, they jointly launched research on key links. Innovation has become the core force that can drive changes in manufacturing quality, and this force is gradually extending in the direction of basic research and original innovation.
Quality and efficiency are steadily improving
Among the quality and efficiency indicators, the manufacturing industry has continued to maintain a good development trend. This trend is reflected in many specific aspects such as product qualification rate, brand value, corporate profit margin, etc. The structural adjustment of the manufacturing industry has prompted resources to converge towards more efficient and higher value-added links.
From this point of view of the global value chain, Chinese manufacturing is moving from the mid- to low-end to the mid-to-high end. Although it is facing pressure from rising costs, total factor productivity has been improved with the help of intelligent transformation and management improvements. The improvement of quality and efficiency is the most direct proof of the improvement of competitiveness.
Export proportion stabilizes and rebounds
In 2024, the proportion of China's manufacturing products in global exports will rebound. This change appears against the background of deep adjustments to the global trade pattern and is particularly important. It means that the global market share of Chinese manufacturing has once again consolidated after fluctuations.
Behind the rebound is the optimization of the export structure. The proportion of exports of high-tech and high value-added products has increased. Industries with traditional advantages have maintained their competitiveness through upgrading. At the same time, the market diversification strategy reduces reliance on a single market and strengthens the ability to resist risks.
Future blueprints for key areas
The Technology Roadmap Green Paper released during the same period outlined a clear technological development route for the next ten to fifteen years. The report carried out detailed analysis and judgment on 17 key areas and distinguished the timetable for different industries to reach world-leading levels. For example, seven industries including information communications and rail transportation are expected to maintain their leading status before 2030.
However, six industries, such as robotics and energy storage equipment, are expected to become world leaders around 2035. For industries such as aerospace equipment and integrated circuits, we have also set the goal of entering the world's advanced level. This roadmap provides direction guidance for corporate research and development and national resource allocation.
The challenge from catching up to running parallel
Now that it has entered the second array of manufacturing powers, this shows that it has moved from the past period of catching up to a new stage of running alongside the powerful countries. At this stage, competition will increasingly focus on cutting-edge technology and rule-making rights. The next core topic is how to take the initiative in the new round of technological revolution.
When we are in the parallel running stage, we have put forward higher requirements for innovation capabilities, higher requirements for talent training, and higher requirements for the security of the industrial chain. Especially in areas with shortcomings such as basic materials, in areas with shortcomings such as core technology, and in areas with shortcomings such as industrial software, continuous investment is required and long-term accumulation is required. Achieving the leap from running alongside to leading will be an even more arduous task in the future.
After reading this detailed report, which manufacturing sector in China do you have the most optimistic attitude towards the development prospects in the next ten years? Are they the seven major industries that will continue to maintain their leading position, or are there other areas that may catch up? Feel free to share your observations and insights in the comment area. If you find the analysis helpful, please give it a thumbs up.
