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Upgrading gives strong impetus to nation's manufacturing industry
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Upgrading gives strong impetus to nation's manufacturing industry

Views:0     Author:Site Editor     Publish Time: 2019-06-24      Origin:Site

China's high-end manufacturing investment has enjoyed a sound development momentum this year, with investment in high-tech manufacturing and technological transformation becoming the primary drivers of growth in manufacturing investment, said the country's top economic regulator.

The nation's high-end manufacturing investment surged 10. 2 percent year-on-year in the first five months of this year, 7.5 percentage points faster than the growth in total manufacturing investment, the National Development and Reform Commission said on Monday.

According to the NDRC, investment in technological transformation in the manufacturing sector increased by 15 percent from January to May. Manufacturing investment grew by 2.7 percent during the same period, 0.2 percentage point faster than in the first four months.

NDRC spokeswoman Meng Wei said that China's fixed asset investment has kept on growing this year.

"Compared with the previous years, we have seen investment growth slow in manufacturing due to many factors," Meng said.

"In the context of today's new development forms and new organizational modes, we are more inclined to see small batches, personalized and R&D-focused investment instead of simply pursuing scale. And it will still take some time to shift from old drivers of manufacturing growth to new ones."

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