China's Manufacturing Sector Ranks Fourth in the World

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Last updated at: (Beijing Time) Thursday, November 28, 2002

China's Manufacturing Sector Ranks Fourth in the World

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The latest manufacturing statistics in China show that the sector has become a magnet for foreign investment. China's manufacturing sector now ranks the 4th in the world after the United States, Japan and Germany.

Experts attribute the fast growth of the industry to China's huge market potential, low labor costs and sound investment environment. But they also say low efficiency is still a problem for Chinese enterprises. Experts call for more investment in key industries with high technology, so that more breakthroughs can be achieved.

They also stress that efficiency is as important as size, and that technology is vital for the overall development of the manufacturing sector.

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