Industry 4.0 and the Upgrading of China's Manufacturing Industry

In recent years, major economies around the world have been vigorously promoting the revival of the manufacturing industry. Under the upsurge of Industry 4.0, Industrial Internet, Internet of Things, cloud computing, etc., many manufacturing enterprises around the world have carried out intelligent factory construction practices.

Currently, manufacturing enterprises in China are facing enormous pressure for transformation. On the one hand, factors such as rapidly rising labor costs, overcapacity, fierce competition, and increasing personalized customer demands have forced manufacturing companies to shift from low-cost competitive strategies to establishing differentiated competitive advantages. The rapid rise of emerging technologies such as the Internet of Things and collaborative robots provides excellent technical support for manufacturing enterprises to promote the construction of smart factories. In addition, with strong support from national and local governments, more and more large and medium-sized enterprises in various industries have started the construction of smart factories.