China's manufacturing industry urged to transfer development strategy

President of China Industrial Economics Federation Xu Kuangdi urged China's manufacturing industry to increase output efficiency and promote brand strategy here Tuesday.

Xu, also president of the Chinese Academy of Engineering, addressed the fourth session of China Industrial Economics Federation. He said that low output efficiency has greatly affected the competitive ability of the manufacturing sector in China, which has long relied on the advantage of rich resources and cheap labor costs.

Energy, resources and environment are the major issues affecting China's development, Xu said. Rapid economic growth should not necessarily result in high energy consumption.

He said China's manufacturing industry should develop based on high technology, low energy consumption and environment protection so as to improve its competitive ability worldwide.

Xu said that though China is the third largest manufacturing country in the world, it has a few brands known in the world market. This should be the aim of China's companies, especially those in manufacturing sector.

Source: Xinhua