China’s transition to innovation and IT market

  • Aravind Yelery


Introduction China is transforming from being global factory to global centre for innovation and IT industries. Chinese manufacturing industry was hit hard during the Asian crisis of 1997 and later in 2008 when global recession hit the Chinese manufacturing- based export industry (see Graph 1). The buyers from the developed countries refused to pull the stocks and the manufacturing towns faced harsh conditions (China Daily; 2008). Chinese manufacturing industry feeds 100 million of migrant workers. Chinese government had been working rigorously to evade any such catastrophe by pushing a soft skill industry model.