UPS announced the release of the “Made in China 2.0” (MiC 2.0) Readiness Index. “MiC 2.0” represents a new era of innovation and collaboration for manufacturing in China. The Readiness Index, launched in collaboration with Caixin Media, is based on a survey of 1,000 Chinese export manufacturing companies, maps out a new path for Chinese export manufacturers.
The survey results and related research have identified important traits which Chinese manufacturers exporting globally will need to adopt and the significant reforms they would need to undertake in order to retain leadership position in the manufacturing industry globally. The survey findings also show that while Asia is the most common market for Chinese export manufacturers (73 per cent), more than one half of the respondents plan to export to Western Europe and a third to North America.
“UPS is privileged to work closely with Chinese manufacturers in their challenging transition from ‘Made cheaper in China’ to ‘Made possible in China’. The MiC 2.0 Readiness Index recognises a major shift taking place in the Chinese economy that has regional and global importance,” said Nando Cesarone, president of UPS Asia Pacific. “We see that a more customer-centric approach built on collaboration, industry-vertical solutions, and robust supply chain strategies will continue to be imperative for Chinese export manufacturers to compete globally. Change is happening and these latest findings show that those companies who adopt vital MiC 2.0 traits, including strong logistics partners, are more likely to outperform their competitors.”
“The Chinese economy is evolving and a number of successful, though labour-intensive, Chinese manufacturers are now facing new challenges and need to transform and evolve. I believe the solution to this is a move towards high value-added sectors, and investing in innovation,” commented Huang Yiping of Peking University’s National School of Development. “The MiC 2.0 Readiness Index provides an edge to business owners looking to set up development strategies and improve their competitiveness. It is also helpful for government bodies engaged in policy making and for supporting the upgrade of the manufacturing industry in China.”