China's Manufacturing Recovery Is Encouraging and the Future Will Be A Period of Opportunity

As the third quarter nears, progress from all sides shows that China's manufacturing industry has weathered the outbreak and contributed to the stability of the global industrial chain supply chain. With the implementation of related work, China's manufacturing industry continued high-quality development is facing greater opportunities.

A number of data support china's manufacturing recovery.

In August, China's foreign trade exports rose 11.6% to 1.65 trillion yuan. Behind the export growth is a rapid recovery in Chinese manufacturing.

Han Jianfei, director of the Industrial Development Research Office at the Industrial Economics Research Institute, a said China had taken the lead in getting back to work against the backdrop of the outbreak's severe impact on the supply chain of the global industrial chain. China's export growth rebounded sharply in August, reflecting the resilience of Chinese manufacturing as a "factory of the world".

At present, Chinese manufacturing is increasing the operation of horsepower. China's manufacturing purchasing managers' index (PMI) was 51.0% in August. Among them, the index of new orders was 52.0%, rebounding for the four consecutive months, indicating that demand for manufacturing continued to recover.

Data in the high-tech sector have also improved significantly. In July, the value added of the electronic information manufacturing industry above the scale increased by 11.8% YoY, up 5.7 percentage points YoY, while the value of export delivery in the electronic information manufacturing industry above the scale increased by 10.7% YoY, up 7.4 percentage points from the same period last year.

According to Wen Xiaojun, director of the Institute of Electronic Information Industry of the Saidi think tank, China's electronic information industry has a large number of small and medium-sized enterprises, such enterprises are still under greater cash flow pressure. As the industrial chain resumes production in concert, the demand suppressed by the outbreak will continue to be released.

The Ministry of Industry and Information Technology will further improve the stability of the supply chain of the industrial chain.

In April, eight departments, including the Ministry of Industry and Information Technology and the Ministry of Commerce, requested that supply chain risk points be checked to clarify the situation and geographical distribution of key supply chain nodes, important facilities, major primary and secondary suppliers.

In July, in order to keep the supply chain of industrial communication industry chain stable and smooth, the Ministry of Industry and Information Technology openly solicited opinions from the public to find and solve the difficulties and risks faced by enterprises and industries.

Xin Guobin, vice minister of industry and information technology, recently requested that in the second half of the year, to improve the stability and competitiveness of the supply chain of the industrial chain as a top priority, focus on filling the short board, forging the long board, enhance the industrial base, the modernization level of the industrial chain, build the foundation of the manufacturing power and the chassis of the modern economic system.

Manufacturing in China faces three major opportunities.

With the implementation of related work, China's manufacturing industry will continue to promote high-quality development.

Zhang Xiangmu, former director of the Equipment Industry Department of the Ministry of Industry and Information Technology, said recently that Chinese manufacturing is facing three opportunities:

First, the world's information technology, biotechnology, new energy technology, new materials technology and other cross-integration, a new round of scientific and technological revolution and industrial transformation momentum gradually released, for China's manufacturing industry has opened up a new world.

Second, domestic demand is constantly upgrading, super-large-scale market advantages and domestic demand potential for new technologies, new industries, new models to create a large number of application scenarios for China's manufacturing innovation and development to add new impetus.

Third, China's long-term economic development, complete industrial system, a solid material base, abundant human resources, social stability, continued development has a variety of foundations and conditions. At the same time, China's system has significant advantages and will play an important role in promoting the development of high-quality manufacturing industry.