The Research On The Effect Of Manufacturing Servitization On Manufacturing Performance In China Based On The View Of "Supply Side" And "demand Side"

After the economic crisis,the developed countries have realized profoundly that over-reliance on the fictitious economy will lead to a crisis.In order to rejuvenate their own economies,all countries invariably focus their economic growth on manufacturing.Developed countries all try to occupy the commanding height of economic development in the 21 st century through the development of knowledge-intensive and service-intensive manufacturing industries,thus winning the initiative in the new round of adjustment of industrial structure.As a trend of manufacturing industry in the developed countries that emerged in the 1990 s,the service-oriented manufacturing industry has become the key to guiding the manufacturing industry of developed countries to become advanced.In the wake of the rise of industrialized countries,China,as a manufacturing center in the world,has been in a dilemma of development.On the one hand,the manufacturing industry loses the cost advantage of international competition.On the other hand,the manufacturing industry has caused serious economic problems at the expense of resources and the environment in its past development and has created difficulties in its transformation.In order to get out of the predicament and take the initiative in the international competition,the Chinese government proposed the supply-side structural reform and "Made in China 2025",which promote the manufacturing service from a strategic perspective and emphasize the development of service-oriented manufacturing to help the manufacturing industry to upgrade and transform.It can be said that drawing on the experience of the developed western countries,implementing the strategy of manufacturing service industry and leading the manufacturing industry to the advanced stage has become the inevitable choice for the transformation and upgrading of China's manufacturing industry.The study of service-oriented issues has important theoretical and practical significance for China at present.Many western manufacturing enterprises improved their production efficiency through active service transformation and achieved the success in their business development.As the lowest cost and most profitable economic activity,"service" brings internal efficiency improvement and high added benefit to entity manufacturing.This seems to indicate that service has a significant positive effect on manufacturing performance.However,as more and more manufacturing enterprises carry out servicestrategy,in most cases service has a negative effect on the performance of manufacturing enterprises,forming a "paradox of servitization ".The emergence of two kinds of results,the promotion and suppression in practice,has brought difficulties for the implementation of the strategy of service-oriented manufacturing industry in our country.Based on the situation of economic development in China and from angle of“supply side”and“demand side”,this paper deeply analyzes the inherent relationship between service and manufacturing performance,in order to provide reference for our country to carry out service strategy.In the aspect of theoretical analysis,this paper mainly uses the specialization of division of labor theory,transaction cost theory,industrial chain theory and consumer utility theory to analyze the general mechanism of input-oriented service and output-oriented service to manufacturing performance.Finally,we deduct four propositions:1.In the manufacturing industry itself has a certain scale,once the demand for specialized services have enough market capacity,servitization input will have a significant positive effect on manufacturing performance.2.At present,the servitization input for manufacturing in China has exerted obvious positive impacts on the performance of manufacturing.3.With the deepening of the level of service-oriented production,manufacturing enterprises will spend the strategic adjustment period and "product + service" model can be mature operation within the enterprise.In this way,servitization output can have a significant positive effect on the performance of manufacturing enterprises.4.At present,the servitization output for manufacturing in China has exerted negative impacts on the performance of manufacturing.In the empirical analysis,according to the latest data released by WIOD,we use data from 2000 to 2014 and analyzed the development of China's servitization input.The results of empirical analysis show that servitization input has a significant negative effect on manufacturing performance,but taking into account the economies of scale of manufacturing itself,servitization input has a significant positive effect on manufacturing performance.This shows that the manufacturing industry in our country has grown to a certain scale and has had strong demand for productive services.At present,we should increase investment in productive services,which will help enhance manufacturing performance and promote manufacturing transformation.According to the data and information of manufacturing enterprises listed in Wind database in 2016,the results of empirical analysis show that:The breadth of servitization output has nosignificant effect on the manufacturing market performance,The square of the breadth of servitization output has a significant negative effect on the manufacturing market performance.The depth of servitization output has a significant negative effect on the manufacturing market performance,however,the square of the depth of servitization output has a significant positive impact on the manufacturing market performance.The breadth and depth of servitization output have a significant negative effect on the performance of manufacturing industry,however,the square of output service scale and the square of depth have a significant positive effect on manufacturing business performance.This shows that the servitization output activities on manufacturing performance has a significant negative impact,but we also verify that with the deepening of the degree of servitization,when the manufacturing enterprises to adapt to the strategic adjustment of servitization,servitization will have a significant positive effect on manufacturing performance.Finally,this paper gives some policy suggestion for the manufacturing servitization from the angle of “supply side” and “demand side”.