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Thursday, March 20, 2014
Neglecting the manufacturing Industry Equals to Neglecting the Backbone of Chinese Economy
ANBOUND

Last year the tertiary industry accounts higher percentage in GDP compared to the secondary industry for the first time. Some people believe that the development of service sector is the right direction as it creates more jobs opportunities thus more important than the manufacturing industry. ANBOUND research team points out that it is true that service sector creates more job opportunities than manufacturing industry. It is indeed a global trend whereby the tertiary industry accounts higher percentage of GDP in the post-industrial society. However, the industry upgrading, innovation of technology and the improvement of economic quality will not be achieved without the backbone namely the manufacturing industry. China needs to increase its support towards real economy especially the financial system.

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