A Study Of The Development And International Competitiveness Of China's Equipment Manufacturing Industry

China will build a new development paradigm in which domestic circulation is the mainstay and domestic and international circulations reinforce each other.Its essence is to make China's economy have a relatively complete and independent industrial structure.To make China a powerful country in manufacturing industry,equipment manufacturing industry is the top priority.In this study,with a combination of qualitative analysis and quantitative analysis,the performance of the international competitiveness of China's equipment manufacturing industry in the post-crisis era of world economy,the basis and conditions for the generation of the international competitiveness of China's equipment manufacturing industry,the status of China's equipment manufacturing industry in the global industrial value chain and the economic effects of China's equipment manufacturing industry are assessed.The process of the development of China's equipment manufacturing industry can be roughly divided into four stages.The first stage started at the establishment of the P.R.China in 1949 and ended at China's reform and opening-up.The second stage started after China's reform and opening-up,and it ended before China's accession to the WTO in 2001.The third stage lasted from 2001 to 2013.The fourth stage started from 2013,and it lasts to the present.China's equipment manufacturing industry's share of the world's imports and exports has been increasing.However,after 2013,the growth of the imports and exports of China's equipment manufacturing industry slowed down or even stagnated.China's equipment manufacturing industry is facing import and export pressures to different degrees.The revealed comparative advantage of China's equipment manufacturing industry showed a comparative disadvantage before 2003,and showed a comparative advantage afterwards.The trade competitiveness index of China's equipment manufacturing industry increased until 2003 and then stabilized.China's equipment manufacturing industry's influence coefficient on the three industries has been gradually increasing.The rate of the increase of China's equipment manufacturing industry's influence on the primary industry and the tertiary industry has been obviously higher than that on the secondary industry.The secondary industry has had the greatest influence on China's equipment manufacturing industry.The tertiary industry has had the medium influence,and the primary industry has had the least.The production inducement coefficient of China's equipment manufacturing industry is generally increasing slowly.Exports and capital formation have always been the key driving forces for the development of China's equipment manufacturing industry.Consumption and imports have always been the shortcomings of China's economic development,which restrict the development of China's equipment manufacturing industry.Among the final demands of China's equipment manufacturing industry,the final demand for exports is the only one that has been increasing.The industry's dependence on any other final demand item has appeared a downward trend.The asset-liability ratio of China's equipment manufacturing industry has been gradually decreasing,and the rate of the decrease has exceeded the rate of the overall decrease of the ratio of China's industry.The profitability of China's equipment manufacturing companies has been gradually improving.China's equipment manufacturing enterprises' efficiency of utilizing asset and fund has been generally increasing.So have been their stability and persistence of gaining profits.However,these indicators have dropped slightly recently.The net business profit rate indicates that China's equipment manufacturing enterprises' ability of improving their operation,management and profitability has been increasing.China's equipment manufacturing enterprises' financial risk has been reduced in recent years.The enterprises' assets which are derived from liabilities have tended to reduce gradually,but there still have been obvious differences in the capital structures of the enterprises.Overall,the current ratio of China's equipment manufacturing enterprises is low,and the scale of current assets is insufficient,but the cash ratio is generally high.China's equipment manufacturing enterprises' efficiency of the turnover and utilization of total and fixed assets has been generally decreasing.China's equipment manufacturing industry's participation in the global value chain has been growing,but its industrial status in the division of production still needs to be improved.Specifically,firstly,China's equipment manufacturing industry's participation with intermediate products in the global value chain has been growing.China's equipment manufacturing industry's capacity for basic R&D has been increasing.So has been the industry's capacity for producing intermediate products and parts.In these cases,the industry's status in the global value chain has improved.However,the proportion of final exports has still been large.It is necessary to increase the proportion of the exports of intermediate products through further participation in the global value chain,and to enhance the international competitiveness of the industry further.Secondly,the industry's structure of export value-added has shown significant differences before and after the outbreak of the financial crisis.In this case,the participation in the global value chain has declined.After the international financial crisis,China's equipment manufacturing industry's proportion of vertical specialization began to decrease.Both the PDC and the FDC in the exports have decreased.Thirdly,in the global value chain,the forward production length(Plv?GVC)and the backward production length(Ply?GVC)of various sectors of China's equipment manufacturing industry have not had the same performance,and they have shown different characteristics in stages.After the financial crisis,both the forward production length and the backward production length have increased,but the industry's status in the division of production has declined.From the perspective of the social basis of the competitiveness of the equipment manufacturing industry,China's human capital elements provide human resources support for the rapid development of the equipment manufacturing industry.Capital elements provide financial support for the development of the equipment manufacturing industry.Technical elements provide technical support for the development of the equipment manufacturing industry.From the perspective of economic foundation,China has already become the second largest market of consumer goods in the world.Domestic and international demands provide domestic and international support respectively for the rapid development of the equipment manufacturing industry.The traditional services have contributed most of the productive investment from services into China's equipment manufacturing industry.The proportion of investment from emerging industries has still been low.This has led to low R&D investment into China's equipment manufacturing industry and low level of science and technology.China's manufacturing industry of high and new technology has played a positive role in enhancing the competitiveness of the equipment manufacturing industry.Specifically,the intermediate investment from the manufacturing industry of high and new technology into the equipment manufacturing industry has been increasing in total amount and proportion.The rate of the increase is markedly higher than that from the manufacturing industry of medium and low technology.From the perspective of institutional basis,the industrial policies differentiated in stages have been promoting China's transformation from a big country in equipment manufacturing to a powerful country in equipment manufacturing.Environmental regulation has been gradually strengthening,which forces China's equipment manufacturing industry to improve its capacity for dealing with sewage.Stable financial support is the basis for the development of China's equipment manufacturing industry.To raise the international competitiveness of China's equipment manufacturing industry,industrial integration should be promoted.R&D investment into the equipment manufacturing industry should be increased.The driving force of innovation should be enhanced so that the development of productive services can promote the upgrade of the structure of China's equipment manufacturing industry.