China leading and authoritative newspaper, the People’s Daily, reports that China’s first large passenger plane rolled off the assembly line on Monday in Shanghai. This makes aviation history in China and marks a breakthrough in the country’s high-end manufacturing. The article argued that the rollout of the first C919 aircraft must be congratulated as Chinese people have long-dreamed of having such a domestic-made plane, even though making it met many challenges.
This is article highlights how China’s industry is changing from low-cost to high value-added production, deploying latest technology and highly skilled workforce. There are too many stories and focus on China’s risks but not her opportunities.
I still see a soft landing for China’s massive tranformation from a low-cost export economy to services and higher value-added industries.