Deloitte released insights on China Manufacturing Industry's Transformation Path at 2015 CMIF Innovation Pioneer Award Ceremony

"2015 CMIF Innovation Pioneer Award Ceremony and Annual Innovation Conference" was successfully held in Beijing on 25 September 2015. Deloitte provided the exclusive intellectual support to this event and contributed to award evaluation process as one of the award judges for three consecutive years.

The theme in 2015 is "Innovation makes China Manufacturing Industry glows". Ricky Tung, China Manufacturing Industry Managing Partner made the opening speech at the award ceremony and pointed out the path that China manufacturers have to take in the transformation process. He indicated that under the New Normal, China manufacturing industry is encountering lots of challenges as well as opportunities. The manufacturers need to shift the focus from company-centric to customer-centric. A deeper and comprehensive informatization is necessary for the company when shifting the focus to customer-centric.

Then, at the annual innovation conference, Tonny Xue, Deloitte China Enterprise Risk Management Partner, revealed the key findings in the upcoming Deloitte thoughtware "Advance in the changing era: 2015 China Manufacturing Industry Informatization Study". One of the key findings is that China manufacturing industry's transformation will build upon the informatization, then leverage the smart manufacturing and Internet plus to reshape the industry's value creation and distribution process. China manufacturing players must be aware of the changes on customer needs, the nature of the product, the Eco-system, and the distribution pattern. Then, build upon this with their own strengths to create the new edges, leveraging informatics to catch up and using smart manufacturing and Internet plus to advance.

Furthermore, Danny Liu, Deloitte China Enterprise Risk Management Partner, participated the innovation roundtable and shared Deloitte's perspectives on innovation risks as well as the best practices to prevent them with a number of manufacturing industry executives.

The "Advance in the changing era: 2015 China Manufacturing Industry Informatization Study" will be formally released in late October. Stay tuned with our further insights!