Chinese companies will ramp up investment as costs surge
Official investment figures might appear to be feeble, though exporters at China's largest trade fair point out to their willingness to inject more money into industrial automation, robotics as well as new product development to compensate surging costs.
At the Canton Fair, that burst out this weekend for companies specializing in the household electronics, building and decorative materials - other sectors follow a bit later this month - more than 80% of companies interviewed by Reuters told they would be shelling out more next year.
It would represent a considerable shift if matched throughout the Chinese economy. Wednesday’s official data revealed private sector investment in fixed assets in the first nine months surged just 2.5%, thus picking up from a record minimum of 2.1% for the first eight months.
Kison Van informed that his company, Ningbo Cixi Import and Export Holdings, manufacturing heaters and fans, requires developing three to four new products annually just to stay competitive.