China's manufacturing sector continues to unleash its growth potential, as many manufacturers rush to fulfill orders and drive innovation as the year kicks off, CCTV News reported on Monday.
High-tech and equipment manufacturers were bustling with business orders during the first week of the new year.
In Pingdingshan, Henan province, a company producing electrical grid equipment and intelligent control devices received several orders before the new year that were scheduled for delivery by August this year.
In Huai'an, Jiangsu province, a company making hydraulic systems for large machinery has improved production efficiency by cutting production delivery cycle from 45 to 25 days.
The expectations index for business activity in manufacturing has risen for three consecutive months, with a reading of 55.9 percent in December. It shows growing confidence among manufacturing enterprises in market development.
Furthermore, the Purchasing Managers' Index for high-tech manufacturing and equipment manufacturing in December stood at 50.3 percent and 50.2 percent, respectively, continuing to show expansion.
Besides high-tech and equipment manufacturing, the future industry's development momentum is also robust.
Unitree Robotics, a Hangzhou-based startup company, is conducting a technical seminar, where researchers are discussing methods to incorporate new functionalities into robots.
Thanks to continued research and innovative efforts, the startup has upgraded its robotic products from initial walking capabilities to advanced self-balancing and load-bearing capabilities.
The Ministry of Industry and Information Technology has outlined plans for comprehensive implementation of high-quality development actions for key industrial chains in the manufacturing industry in 2024.
The plan is expected to move faster in fostering emerging sectors such as new energy, new materials and high-end equipment, further unleashing new growth potential within China's manufacturing industry.
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