Chinese manufacturers are not well prepared to brace for the coming wave of digitalisation to narrow the gap with advanced economies, McKinsey & Company suggest in a report. McKinsey sent the warning when it launched a Digital Capability Centre at Tsinghua University, the fifth it has set up globally, to facilitate the application of smart production and digital operation to reshape manufacturing. As the world’s factory, China produces 70% of mobile phones, 80% of air conditioners and 91% of personal computers, but its manufacturing productivity is still only a quarter of developed countries, the South China Morning Post reports. The Chinese are actively engaged in hi-tech R&D, such as 3D printing, big data and VR, but McKinsey noted in the report that most of the players are small start-ups or branches of research agencies, with the market still being dominated by multinationals.
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