Chinese Manufacturing Industry

By: EconomyWatch   Date: 30 June 2010

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Chinese manufacturing industry ranks 4th among all manufacturing industries of the world. United States Of America ranks first followed by Japan and Germany. However, China is still lagging behind the developed countries. Technical standards determine to a large extent the success of any manufacturing industry. Studies reveal that in terms of technical standards, Chinese manufacturing industry has not been able to cope up. Technical know how used in the Chinese manufacturing industry is not up to the mark. Technical standard followed in the Chinese manufacturing industry is not enough to survive in the competition. There are not too many professionals well versed in the technical know how. Manufacturing industry in China forms the backbone of the economy of China. With China's entry into World Trade Organization, China has enhanced productivity by leaps and bounds.

Different sectors of the Chinese manufacturing industry have contributed separately to the entire manufacturing industry in China. The petrochemical as well as the automobile industries contributed 59.9% and 118.3% in the year 1995. The six predominant industries in the manufacturing industry in China comprise of petrochemical, metallurgy, forestry, medicine, food and machinery. Electronics industry, medicine and the food segments have gained popularity very recently. The year 2000 witnessed these industries, namely, medicine, food and electronics industries accounting for 14.7% of industrial yield. 52.9% of industrial performance was achieved in the year 2000, by joint venture companies and shareholder organizations. This was an increase by 11.3% as compared to 1995.

Statistical data showing impact of the Chinese manufacturing industry on economy:

The productivity of China's manufacturing industry was 35.30% of the gross domestic product and approximately 78.68% pertaining to all other industries in the year 2003. Chinese manufacturing industry paid taxes accounting for 90% by industries and the contribution of employees accounted for 90.7%. exports registered 91.2%. Trade value registered USD$1150 billion in the year 2004.

 

Different sectors of Chinese manufacturing industry:


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