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Hardware industry will develop steadily in 2013
In the article, it is stated that China's hardware industry has experienced steady growth in recent years, driven by several key factors. First, the quality of professionals in the sector has significantly improved. For instance, the head of the China Hardware City, which is set to become the country’s largest hardware market in Beijing, includes many individuals with advanced degrees such as PhDs and postdoctoral researchers. This indicates a shift toward more educated and skilled leadership within the industry.
Second, technological and managerial capabilities have also seen substantial progress. In the early stages, some domestic companies began adopting foreign technologies and management practices. As a result, many firms now operate with high levels of technical expertise and efficient management systems, allowing them to compete more effectively on both domestic and international markets.
Third, the industry is currently undergoing a transformation phase. China is moving from producing mid-to-low-end hardware products to focusing on high-quality, high-value goods. This transition is beneficial for long-term development, as it allows for the integration of advanced foreign production techniques and management models, including better raw materials and more efficient processes.
Additionally, there is strong demand for hardware components and parts. After over a decade of steady growth, China has become the world's largest producer of hardware products. Its exports have consistently increased year after year, with an annual growth rate of around 8%. Last year alone, the value of hardware exports surpassed $5 billion, placing it third among light industrial exports.
Looking ahead, due to improvements in manufacturing capabilities and expanded production capacity, the Chinese hardware industry is expected to maintain a growth rate of over 10% per year for the next five years. In the first ten months of this year, the import and export volume of hardware and electromechanical products reached over $500 billion, with a trade surplus of $7.06 billion—accounting for 64% of the total national trade surplus during the same period. This highlights the growing importance of the hardware sector in China's overall economic landscape.