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Last updated at: (Beijing Time) Saturday, August 17, 2002

Potential of World Factory Draws Global Attention

The growing competitiveness of Chinese manufacturers and China's potential to become a "world factory" are expected to be hot topics at an international seminarto be held in Suzhou city in east China in early November.


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The growing competitiveness of Chinese manufacturers and China's potential to become a "world factory" are expected to be hot topics at an international seminar to be held in Suzhou city in east China in early November.

More than 300 senior executives, economists and government officials from around the globe are expected to attend the first annual meeting of the China Economic Growth Forum.

Qiu Xiaohua, deputy commissioner in charge of the National Bureau of Statistics (NBS) told a press conference on Friday the manufacturing industry had already grown into the engine of economic growth in China.

The theme of the two-day forum is "the manufacturing industry and economic growth in China".

Statistics show that China is the fourth largest producer of manufactured goods in the world. It boasts a special edge in global competition and a good position in the international manufacturing chain. Manufactured goods have replaced raw materials as the top item that China exports, accounting for more than 80 percent of total exports.

Qiu said China was shifting from an assembly base to a manufacturing center for multinational companies.

However, he said China still had a long way to go to become a strong manufacturing power in the world. He said the variety, technical content and added value of Chinese-made products were not up to international standards.

"China is yet to become a world factory or a strong manufacturing power," he said.

The first meeting of the China Economic Growth Forum is co-sponsored by the NBS, the local governments in Jiangsu province and Suzhou city, the Conference Board and Japan External Trade Organization (JETRO). It will be held from Nov. 1 to 2.



Source: Xinhua News Agency


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