In the coming years, China's economic growth remains in a critical phase of consolidation and recovery. As such, maintaining steady growth is still a challenging task, while structural adjustments and transformation are more urgent than ever. Chinese industrial enterprises must fully implement the guidelines from the Central Economic Work Conference, focusing on structural adjustment and development model transformation as key priorities this year. This involves enhancing the quality and efficiency of industrial growth, placing greater emphasis on technological upgrades, independent innovation, and the cultivation of emerging industries. Additionally, efforts should be directed toward phasing out outdated technologies, promoting mergers and reorganizations, and advancing energy-saving and emission-reduction initiatives. The integration of information technology with industrialization and the merging of military and civilian sectors will also be essential to ensure stable and rapid industrial development.
The expansion of the hardware manufacturing industry has shown clear trends. In recent years, the export of hardware products has seen widespread growth. Major electrical and mechanical products have gained significant traction. Not only have traditional exports like power tools, hand tools, and architectural hardware experienced rapid growth, but even niche products such as kitchen and bathroom appliances have seen impressive export increases. These strong market positions and vast opportunities are expected to attract more global hardware companies to shift their manufacturing bases to China, further integrating the country into the global hardware industry.
Luo Baihui emphasized that improving the overall competitiveness of China’s hardware industry requires protecting domestic resources from the source, starting with the domestic market, and building a solid foundation. Only by taking control of long-term sustainability can China remain resilient against external influences.
First, adjusting and optimizing the hardware industry structure is crucial for upgrading the sector. While China’s hardware industry is currently labor-intensive, this advantage is gradually diminishing. To ensure long-term growth, the industry must continue leveraging its traditional strengths while actively developing knowledge- and technology-intensive sectors and emerging industries. This will help narrow the gap between China and developed countries in the hardware field.
Second, cultivating and introducing skilled professionals is essential to enhance intellectual capital. The lack of qualified personnel is a major constraint on the industry’s development, affecting its international competitiveness. A dual approach of internal training and external talent acquisition can help address this issue, strengthening the human resource base of the industry.
Third, promoting independent innovation and implementing a brand strategy will increase product value. Currently, the industry relies heavily on quantitative expansion, leading to intense competition in the global market. To change this, companies must adopt an innovative mindset, collaborate with research institutions, and focus on product development and technological upgrades. By building strong brands and improving product quality, Chinese hardware companies can strengthen their position in the global division of labor and enhance their ability to withstand risks.
Fourth, developing hardware industry clusters and creating comprehensive industry chains will boost competitiveness. With many small and medium-sized enterprises, China’s hardware industry needs to leverage the advantages of industrial clusters, utilizing specialization and cooperation to strengthen overall industry performance in the global market.
Lastly, the government should play a guiding role by supporting infrastructure, corporate innovation, energy conservation, and SMEs. Policies that encourage brand development, R&D investment, and tax incentives can create a favorable environment for businesses, ultimately enhancing their international competitiveness.
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