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China: China's manufacturing sector moves towards high-quality, innovation over past 5 years
[Voiceover] During China's 14th Five Year Plan that started in 2020 and that ends this year, the country's manufacturing sector has pivoted from scale to quality with technological innovation driving the transformation. With intensive investment into core technologies and research and development, Chinese companies are manufacturing state-of-the-art products in new materials, space exploration. And consumer electronics. Things like foldable screens that China now produces en masse, becoming a leading player in the global marketplace. And beyond the products themselves, the Chinese factories where they're made represent another notable achievement during the past five years. China is the global leader in so-called "lighthouse factories"- a term created in part by the World Economic Forum, to recognize manufacturing facilities that have successfully implemented AI systems, the Internet of Things, and other technological advancements. The number of "lighthouse factories" in China has increased sixfold over the past five years and now stands at over 80. Official data shows that the value of China's manufacturing sector grew by more than a trillion U.S. dollars in the past five years, accounting for more than 30 percent of global manufacturing growth. [Restrictions: No access Chinese mainland]
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