Manufacturing sector urged to up its game against global peers
China's manufacturing companies will reinforce and optimize their innovation strength, brand influence and management expertise to further compete with their global rivals during the country's 14th Five-Year Plan (2021-25) period, said a member of the Standing Committee of the Chinese People's Political Consultative Conference National Committee.
Si Zefu, chairman of Harbin Electric Corp Co Ltd, a centrally-administered State-owned enterprise, said the country's manufacturing industry is commendable in many sectors across the world. For instance, its construction machinery sector is fairly competitive. Another example is power generation equipment sector, whether its hydropower, thermal power or nuclear power segments, their manufacturing capacity and technology levels are world-class.
However, he stressed that China's manufacturing industry still faces the challenge of being big but not strong. Chinese companies need to improve their innovation ability, product quality, brand influence, management efficiency and profitability in the coming years, he added.
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