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The Report Shows That Chemical Industry Ranks First In China's Manufacturing Competitiveness

Zhangjiagang Sansu Machine Co.,Ltd | Updated: Apr 23, 2018

During the recent boao BBS, the first institute of finance and economics released the report of China and global manufacturing competitiveness.According to the report, the current based on unit Labour costs (unit Labour costs is lower, on behalf of an economy or an industry more competitive) of China's manufacturing competitiveness, the chemical industry to lead all manufacturing.

The report in China, for the reference point, track and compare this century the world's major economies 19 classification manufacturing competitiveness, in-depth analysis, institutional factors play a role, such as comprehensive assessment strength rise and the changes in China in the global map.

According to the report, China in this century has led to the global manufacturing landscape changes, along with the United States, Japan, Germany and other developed countries market share falling fast, emerging markets such as China, India, Turkey share is rising fast.Among them, China's manufacturing output surpassed Germany in 2005, surpassed Japan in 2008 and surpassed the United States in 2010.By 2016, the real value added of China's manufacturing industry was 7 times that of 2000, and the proportion of global manufacturing output increased from 8.5 percent to 30.9 percent.In the process, China's unit labor cost competitive advantage rose from eighth place in 2000 to fourth in 2016.In terms of industry, chemical industry competitiveness ranks first, ranking fifth in the world.Followed by electrical, electronic communications, automotive, machinery and other industries.