CSSN-Industrial innovation beneficial to manufacturing

Industrial innovation beneficial to manufacturing

Author : Li Yu, Zha Jianguo Source : Chinese Social Sciences Today 2017-01-25

China’s economic operation remains rational while quality and efficiency have improved. However, problems still exist, such as the contradiction between excess capacity and upgraded demand structure, said Huang Qunhui, director of the Institute of Industrial Economics at the Chinese Academy of Social Sciences, at the Shanghai Roundtable Meeting of Industrial Innovation Transformation held in Shanghai on Jan. 11, themed “Transformation and Upgrading of Shanghai Manufacturing during the 13th Five-Year Plan Period.” Huang said other problems include the disparity between economic growth and endogenous power as well as mounting financial risks.

Two major methods are needed for China to achieve the goal of becoming a manufacturing power: the integration of industrialization and informatization, and the integration of manufacturing and service industry, Huang added.

A top-down strategy to usher in manufacturing transformation and upgrading is needed to overcome the risks of Shanghai’s transformation, said Li Wei, deputy director of the Institute of Applied Economics at the Shanghai Academy of Social Sciences. Intelligent manufacturing and industrial Internet are the important components of Shanghai’s top-down strategy, Li said.

Editor: Yu Hui