More innovations needed, says expert

16:33, October 25, 2010      

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Chinese companies need to improve technological innovation, especially in development of proprietary high-end products, said Lu Daming, a director-general with the Chinese Mechanical Engineering Society.

There are more than 4,000 companies nationwide involved in the production of machines and equipment related to logistics.

They generated more than 310 billion yuan in annual revenue last year, but most of them have yet to pay more attention to research and development, Lu said.

For small and mid-size businesses, focusing on specialized areas and developing an edge are more important than becoming larger, he noted.

In addition to product quality, improved management and team building are crucial to enhance competitiveness, he added.

The annual professional fair CeMAT ASIA provides an ideal platform for Chinese machine and equipment makers to showcase their latest products and technologies, enabling overseas buyers to know more about the technological progress of China-made products, Lu said.

At the same time, more state-of-the-art overseas products are on display, promoting the growth of Chinese manufacturing sectors, he added.

CeMAT ASIA creates business opportunities and plays an active role in helping Chinese companies go global, Lu said.

Source:China Daily


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