China's economy has been transitioning from a phase of rapid growth to a stage of high-quality development, which requires the innovation capacity and competitiveness of the economy.
However, it has not been plain sailing for SMTCL. The company has reported losses for more than two years. It forecast that the loss in the first nine months of this year will be between 750 million and 800 million yuan, compared with a loss of 798 million yuan for the same period of 2016.
Product sales dropped due to insufficient downstream demand affected by macroeconomic and industry environment.
The losses in recent years came as China's economic growth slowed to medium-high rates and the share of the service sector in GDP has exceeded that of the industrial sector.
However, Gai is still confident about future growth, saying that the independent technology allows them to tap new markets at lower costs. "Our feeling is that there is nothing we cannot achieve with our strength."
"Technological innovation should be a lasting process. We still need to make constant experiments and huge inputs in the future," according to Ju.
【国内英语资讯:Economic Watch: A Chinese manufacturers bittersweet bite of innovation】相关文章:
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2020-09-15
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