Chinese government to provide funding for “smart machinery”
26/05/2016
In its report on this move by the government, the China Leather Industry Association included figures that suggest that labour costs in China were less than half those of the US in 2003, but is now “only slightly lower”. In contrast, it said productivity per worker is six times higher in US factories.
To catch up, China last year announced a new campaign called Made in China 2025, a 10-year plan to upgrade manufacturing capacity.
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