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According to a number of statistics at home and abroad, China has gradually shed the label of "low-end manufacturing" and become the world's leading manufacturer of machinery products in a number of fields. In a report released by the Federation of German Machinery and Equipment Manufacturers, China overtook Germany for the first time in 2020 to become the global export champion of machinery and equipment.
There is a famous "smile curve" in economics. The "smile curve" tells us that on the value chain curve of modern manufacturing industry, manufacturing and processing are always at the middle and low end; while R&D, design, sales and service are at the high end of the curve,however, they are more needed to increase the added value of the industry.