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After years of rapid development, China's equipment manufacturingnow features wide range, high technology and complete industry system,and its industrial scale has been the largest in the world for 5 consecutiveyears.China's machine tools output accounts for 38% of the world,shipbuilding completion 41%, and power generation equipment output60%.China's high — speed railway outraces that of the other countriesin the world.Thanks to decades of inbound investment and independentdevelopment, China has reached world — class levels in such areasas high — speed railway, hydroelectric power and infrastructure, withmore than 200 kinds of products ranking the first in the world.China'sproducts, with telecommunications equipment as the representative,are highly competitive and cost — effective; Chinese capital, equipmentand technology enjoy greater popularity among countries, especiallydeveloping countries.Meanwhile, China's serious overcapacityproblems in steel, cement, electrolytic aluminum, flat glass, ship andphotovoltaic industries can be resolved by international productioncapacity cooperation, which will not only yield profits, thus promotinginternal economic development, but also provide a platform forChinese enterprises to participate in international competition, upgradetechnology, improve quality and service, and strengthen overall qualityand core competitiveness, so as to promote the transformation andupgrading of manufacturing and economic restructuring.