Weathering the 'winter', preparing for the future

Firms come to terms with upgrades in manufacturing, spur innovation

BEIJING - Once known as the "world's factory" for producing cheap goods, China is relentlessly moving into an advanced stage in manufacturing upgrades at 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 is painting a new picture.