At the end of 2016, Cao Dewang, a well-known entrepreneur, commented that China’s manufacturing costs are higher than those of the US, which sparked heated debates in the public. He said, “The comprehensive tax burden of China’s manufacturing industry is 35% higher than that of the US. The US enterprises basically need not to pay for the land; the electricity prices of the US are half those of China; the natural gas in the US is one quarter of that of China. The only advantage of China over the US is its cheaper labor force.” Cao Dewang’s comments suddenly revealed the existing problems of China’s manufacturing industry to the public. In the past two or three hundred years of manufacturing development, every major breakthrough in manufacturing technology and equipment has had a strong impact on the competition landscape of the world's most powerful countries. The rise and fall of the manufacturing industry are the evidence of the rise and fall of world powers. What are the prospects of China’s manufacturing industry when the manufacturing industry becomes the focus of the world’s attention? Professor Liu Zhibiao, Dean of Yangtze IDEI, raised the topic “Dilemma and Breakthrough of China’s Manufacturing Industry” and put forward “Ten Suggestions on Revitalizing China’s Manufacturing Industry”, which sparked heated discussions among relevant experts, scholars and entrepreneurs in various fields. We have compiled and summarized some of their opinions on the “Ten Suggestions” in the article.
