China's manufacturing purchasing managers' index (PMI) for march came in at 50.3% from the service sector survey center of the national bureau of statistics (NBS) and the China federation of logistics and purchasing (CFLP) on April 1, contradicting HSBC's march reading of 48% and stoking fears of an economic slowdown.
Judging from the historical data of the PMI, the divergence between the official PMI and the HSBC PMI occurs quite frequently, mainly because of differences in the sample selection of the two sides.According to the contribution of the industry and enterprises to GDP, the type of large and medium-sized enterprises and the region where they are located, the sample size of the national bureau of statistics is 3,000, which can better reflect the overall situation of China's economy.The sample size of HSBC is more than 400, and it mainly focuses on export-oriented enterprises and small and micro enterprises, mainly reflecting the development status of small and medium-sized enterprises.
Taking all things into consideration, the quality and stability of China's economic growth improved significantly in March, which means steady growth, structural adjustment, and greater improvement in people's well-being.Of course, this benefits from the acceleration of the reform of the business registration system, improve the investment environment and business environment for small enterprises, stimulate the enthusiasm of private investment;The expansion of the pilot program to replace business tax with VAT and the further improvement of policies and measures have to some extent reduced the burden on enterprises.The dividends released by these policies and measures have played a better role in promoting the development of emerging enterprises such as small enterprises.
Take the long view.Last year, for China's manufacturing sector, there was a slump in the first half of the year, followed by a rebound in the second half.Over the years, the nation's determination to the transformation of the real economy and action led to great changes manufacturing: from labor-intensive to low-end processing to today's high-end output, more and more people have found that the traditional shoes, socks and other products, the name on the decrease, made in China and in areas such as construction machinery, electronic products, such as in the high-end market, there are more and more manufacturing in China.
Of course, China has long been more of a producer than a creator and designer in the division of Labour in the global industrial chain.This also leads to the fact that although Chinese manufacturing is spread all over the world, the overall profit of the real economy is not high.Some people say that China's industry is like a smiling curve in the international division of labor, with r&d, patents and brand standards at one end.At the other end is marketing and service, with high added value, and in the middle is processing and manufacturing, with low added value. A large number of Chinese enterprises are concentrated in the middle.
At present, the major developed countries that have experienced the international financial crisis are re-examining the significance of developing the real economy.U.S. manufacturers are looking to regain their cost advantage, and ultra-low labor costs in southeast Asian countries such as Vietnam are gaining traction.In this context, unit labor productivity is far lower than that of Europe and the United States and manufacturing costs are far higher than that of southeast Asia, forcing Chinese manufacturing to find a new source of strength as soon as possible.In addition to expanding domestic demand and exploring new markets around the world, more importantly, the manufacturing industry must shift from low-end OEM to high-end smart manufacturing.Because the country's real economy continues to develop, it needs the transformation and upgrading of the manufacturing sector to bring new vitality and impetus.
China has built the world's fastest supercomputer, sent astronauts into space and developed the beidou navigation satellite system.Innovation with Chinese characteristics has played a leading role in the country's development and progress.The national innovation index report 2013, released by the China academy of science and technology development strategy, shows that China's innovation capacity is steadily improving, and the national innovation index ranks 19th among 40 major countries in the world.China's r&d spending reached 1029.84 billion yuan, ranking third in the world.High-tech exports account for the largest proportion of manufacturing exports in the world, and the value-added of knowledge services ranks the third in the world.From the country's intellectual property creation and application, it can be seen that China has surpassed the United States in the application of invention patents for three consecutive years, ranking first in the world.
Facts have proved that in the process of economic transformation, the Chinese government not only attaches importance to Chinese manufacturing, but also attaches more importance to Chinese intelligent manufacturing.In terms of policies to support the research and development of core technologies in the industry, and accelerate the transformation of scientific research achievements, more and more Chinese manufacturing is gradually transforming to Chinese intellectual manufacturing.
At one time, the Chinese market had long been viewed by foreigners as a giant factory producing and processing products for global companies, all made in China.Label products from here to the overseas market, but almost nothing with their own ideas and leading edge.But today, that is starting to change.We are proud to say that we can not only produce high-quality products made in China, but also create unique products made in China.