Reference News Network November 7 report: On November 4, the French International Radio website published an article pointing out that China continues to innovate in economic development, providing advanced technological products with competitive prices, and is now vastly different from before.

In 2016, Paul Falchioni first attended the China Appliance and Consumer Electronics Exhibition (AWE) held in Shanghai. At that time, this trade exhibition focused on consumer electronics was still in its early stages. Last March, Paul went back to Shanghai again. He pointed out that China continues to innovate in economic development, offering advanced technological products with competitive prices, and the contrast compared to the past is very obvious.

Now, industry experts rank AWE alongside the Consumer Electronics Show (CES) in Las Vegas and the International Funktionsausstellung (IFA) in Berlin as the world's largest home appliance exhibitions. The AWE exhibition has seen the vigorous development of local brands and is bustling. Paul Falchioni explained: "This shows that over the past decade, artificial intelligence and everything related have become a driving force for China's economic growth."

The report said that China was once called the "world factory." Now, Chinese companies are innovating at an astonishing speed and developing high-tech products at unparalleled prices.

Notably, they have real marketing strategies. Vincent Redlado, founder of the consumer consulting company DNG, recalled: "Until recently, there were no well-known Chinese brands in the market. These factories used to produce products for European companies, which then resold them under their own brands."

These factories now have dual roles: they both produce products for other companies and develop their own product lines. "The entire industrial ecosystem is highly concentrated geographically, especially in Shenzhen."

"This close connection between research, industry, and investors allows for a very fast response," explained Stéphane Bobo, founder of Innov8 Group, a French consumer electronics distribution company. The group searches for new electronic products in China each month for major French distributors.

"Domestic consumption cannot meet the incredible investment momentum and massive industrial capacity," explained François Hymans, project manager at the Montaigne Institute in Europe. "This has caused Chinese companies to turn their attention to the international market."

DJI drones, TCL televisions, Unitree Robotics' humanoid robots, and Shao音 headphones... almost every field has Chinese companies seizing market share, even dominating it. Jean-Charles Vaugeois, secretary-general of the French Association of Furniture and Household Equipment Trade, said: "TCL has had a huge impact on Japanese brands in the television sector. Some of their products in the refrigerator and washing machine sectors can rival European brands. This is also true in the air conditioning and small appliances sectors."

GoPro, which once dominated the action camera market, is now competing with the Chinese company Insta360 for market share. Beijing Roborock Technology Co., Ltd., established in 2014, has become a benchmark company in the robotic vacuum cleaner industry and continues to apply for patents.

"What impresses me is the remarkable progress these companies have made in various fields," said a former head of a French industry association. "Except for the industrial robotics sector, they have almost taken the lead in all industries."

Xiaomi, which focuses on smartphones, consumer electronics, and has recently entered the electric vehicle sector, has paved the way for other companies. Stéphane Bobo asserted: "Xiaomi's success shows that it is entirely possible for Chinese companies to succeed overseas. Behind it, a complex industrial product system has developed and given rise to many other companies."

Faced with this wave of impact, Europe seems helpless. "We cannot fool ourselves: after the energy shock, Europeans found themselves in serious difficulties," said François Hymans. "Although the 'Draghi Report' has been released, we are still far from truly implementing policies that benefit our own industries."

The report believes that the solution likely involves a new mode of cooperation with China: exchanging technology transfer for access to the European market. Like Airbus twenty years ago, but in the opposite direction.

Original: https://www.toutiao.com/article/7569877428915421734/

Statement: The article represents the views of the author. Please express your opinion by clicking the [up/down] button below.