China Transforms Economy

China’s efforts to transform its economy has led the world to view the country as more than a simple manufacturing hub. For instance, China is now at the forefront of various of financial technology advancements, and many firms across the world are now using Chinese Internet technology. Changes have also been made in the manufacturing front as China shifts towards high-tech manufacturing in areas such as EVs. This broader shift comes as China continues with its multiyear plan to transition from a factory-led model of growth to one driven by services and innovation.