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China Replaces Japan as Second Largest Manufacturer But Is Not Strong

Wang Zhongyu, President of the China Enterprise Confederation, announced on March 27 that in 2009 China’s manufacturing accounted for 15.6% of the value of total global manufacturing. With the United States accounting for 19%, China has now replaced Japan (15.4%). Wang stated, however, that China’s manufacturing industry is large in size but not strong, and most enterprises are still at the bottom of the value-added chain. U.S. service oriented manufacturing is 58% of its entire manufacturing while that of China is 2.2%.

Source: China News Service, March 27, 2010