Chinese manufacturing took a knock in 2014 with labor shortages, increasing costs, excessive capacity and the weak global economy holding back growth across all sectors.
Global competition is diluting China’s position as the ‘world’s factory’ with emerging players dominating the low-cost sector and high-end manufacturing returning to developed nations.
Under this pressure, transformation has become the top priority for Chinese manufacturing companies. Through product innovation, lean manufacturing, flexible production and supply chain integration China aims to take back its slice of the global manufacturing industry in 2015.
In 2015, innovation will remain the driving force for growth in China. Transformation and upgrades are urgently needed, as companies move toward miniaturized, intelligent and specialized manufacturing. With the innovation accelerators such as the Internet of Things (IoT), robots and 3D printing, and 3rd-Platform technologies such as cloud, big data, analytics, social and mobile manufacturing, technology needs to be adopted, and fast, to ensure China remains a global manufacturing player.
Manufacturing Global highlights ten top trends effecting Chinese manufacturing in 2015 and beyond: