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Song Zifeng, DRC

2017-1-24

According to the decisions made at the Central Economic Work Conference, we need to boost new drivers of growth and revitalize traditional ones. The manufacturing industry boasts the largest number of traditional drivers and many new drivers are generated from this industrial sector. The transformation and upgrading of the manufacturing industry is one of the key points to thoroughly implement the decisions made at the Central Economic Work Conference. Generally speaking, the new growth drivers for the manufacturing industry will emerge in the following aspects.

First, some enterprises of traditional manufacturing industry, including Haier Home Appliances Group and Redcollar Group, have used new technologies and new modes to improve the efficiency of manufacturing industry so as to meet the demands of consumers.

Second, some enterprises of traditional manufacturing industry have already finished their transformation to the service sector, leading the whole industry towards the production of high value-added goods. For instance, on the basis of introducing and absorbing advanced ideas, technologies and methods, and in light of its own production experience, Qinchuan Machine Tool & Tool Group ( QCMT&T) is now able to offer relevant solutions to other domestic peer enterprises for the resolution of technical problems.

Third, some companies have broken the back of relevant technical problems by applying international technologies, which have been turned into new growth drivers. In recent years, some domestic firms have made progressive breakthroughs in automobile engines, gearboxes, and 8-inch IGBT chips and have received beneficial results.

Fourth, some frontier innovations have been made, which are of strategic and overall significance for supporting the creation and growth of new drivers of the manufacturing industry in the mid-to-long run.

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