Role of manufacturing in recovery hailed

Manufacturing is playing an increasingly important role in bolstering economic recovery in Asia, creating a wide range of jobs and ensuring the stability and prosperity of society, said speakers at the 14th Annual Meeting of the New Champions, also known as the Summer Davos Forum, in Tianjin on Wednesday.

Li Dongsheng, founder and chairman of consumer electronics maker TCL Technology Group Corp, said Asia's manufacturing sector covers several categories with complete industrial systems, and has gained an upper hand in terms of production capacity, efficiency and cost control.

China's manufacturers should transition from exporting products to exporting industrial capacities, establish supply and industrial chains abroad and accelerate their layouts in overseas markets, so as to cope with changes in the global economic landscape and rising trade protectionism, Li said.