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A Look at the Chinese Electronics Industry

Date:15-10-2013

After the liberalization of the Chinese economy, the electronics industry in China expanded at a very rapid rate. China is currently the largest manufacturer as well as consumer of electronics in the world. The electronics industry in China has grown phenomenally and it has now emerged as the world’s major manufacturing base. Some of the key factors for this phenomenal growth are entry into the World Trade Organization, simplification of foreign investment and licensing policies and government funding in research and development of electronics.


Overview of China’s Electronics Market


The electronics industry in China can broadly be divided into four broad categories. They are computer related goods, household entertainment equipment, communication equipment and electronic parts. In recent years, the sale of consumer electronics such as televisions, smart phones and personal computers have seen rapid growth. The top Chinese companies like Huawei, Haier Group, Lenovo, BOE Technology Group, Midea Group and TCL group are optimistic about future growth of the industry. Sales of electronic goods in China are fueled by its growing domestic market and higher disposable income of consumers. However, there are a few challenges that are plaguing the Chinese electronics industry which needs to be addressed.


Challenges Ahead


One of the main challenges faced by China’s electronics market is the lack of technological innovations. It is well-established that an industry cannot grow without research, development and technological advancement. Compared to western countries, China is lagging behind in technological innovations. The top electronic companies in China are lacking adequate investment in R&D due to which no major products are being developed. Although China’s investment in research and development has increased significantly in the past couple of years, it is still quite low compared to other developed nations.


Driven by demand from the domestic market and increase in disposable income China’s electronics market is poised to grow rapidly.

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