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China upgrades manufacturing industry for global economy certainty

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JINAN, Sep 5(ABC): At the intelligent manufacturing base of Goertek in Weifang City, east China’s Shandong Province, tonnes of components are assembled into Virtual Reality (VR) equipment to be delivered to different countries. According to Chang Gang, vice president of marketing and sales of Goertek Inc., it is one of the few VR manufacturers globally to reach the production scale of 1 million sets. It is also one of the largest manufacturers of mid and high-end VR headsets.

Goertek is the epitome of China’s advanced manufacturing industry. At the 2022 World Advanced Manufacturing Conference, which closed Friday in Jinan, capital of Shandong, enterprises and experts gathered to discuss the frontier issues of global advanced manufacturing development. As a major manufacturer, the steady growth and upgrading of China’s manufacturing industry brings certainty to the global economy, the experts say.

Data from the Ministry of Industry and Information Technology show that the added value of China’s manufacturing sector increased from 16.98 trillion yuan (about 2.46 trillion U.S. dollars) in 2012 to 31.4 trillion yuan in 2021. To promote the transformation of the manufacturing industry, China has built a modern industrial system led by the advanced manufacturing industry, promoting the manufacturing industry to march into the middle- and high-end of the value chain.

Taking China’s domestic diesel engine as an example. The thermal efficiency of diesel engines made by Weichai Holding Group Co., Ltd. now has exceeded 51 percent. Compared with the primary products in the market, annual fuel consumption and carbon dioxide emissions of this engine type have been reduced by 10 percent, respectively.

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  • FD News

    Financial Daily (FD) is an emerging media outlet providing news reports, analysis and features especially related to politics and economy. FD is currently one of the largest and most comprehensive private-sector information portals in Pakistan, providing its readers with apolitical, unbiased and fact-based news reports and analyses.

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