Experts: Chinese manufacturers need technology innovation

09:00, December 29, 2010      

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Over the past decade, China has become the largest manufacturer of products, making around 10 percent of the world's sneakers and 95 percent of computer parts. But the large "scale" has failed to create large "profits", and domestic companies have become cheap labor for international manufacturers.

Experts say Chinese firms must improve technology and added value to develop high-end products and become more competitive in the global market. Many manufacturers are also seeking to expand their business to services, which in turn boosts their manufacturing.

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