Chinese manufacturing industry is at a critical stage of the "big" to "strong", and the existing conditions are the basis of the transformation of manufacturing industry. Huge market scale advantage, improve the supporting industry advantages, multi-level space gradient strengths, in the upgrading of consumption demand advantage, these advantages in growth was born in the Chinese market is to promote the "made in China core 2025" spontaneous forces.

国务院日前印发《中国制造2025》，部署全面推进实施制造强国战略。这是我国实施制造强国战略第一个十年的行动纲领。制造业是国民经济的主体，是科技创新的主战场，是立国之本、兴国之器、强国之基。当前，全球制造业发展格局和我国经济发展环境发生重大变化，必须紧紧抓住当前难得的战略机遇，突出创新驱动，优化政策环境，发挥制度优势，实现中国制造向中国创造转变，中国速度向中国质量转变，中国产品向中国品牌转变。

Before the State Council issued the China manufacturing 2025, the deployment of a comprehensive implementation of manufacturing power strategy. This is the first ten years of the implementation of the strategy of manufacturing power strategy in china. Manufacturing is the main body of the national economy, is the main battlefield of science and technology innovation, is the foundation of the country, the country of the country, the foundation of the country. At present, the global manufacturing industry development pattern and our country economy to develop an environment has undergone major changes, we must firmly grasp the rare strategic opportunity, outstanding innovation driven, optimize the policy environment, play to the advantage of the system, the realization of China's manufacturing to China to create change, Chinese speed to changes in the quality of Chinese, Chinese products to the Chinese brand change.

投资界看好制造2025

Investment industry optimistic about the manufacture of 2025

“中国制造2025”将是下半年影响面最广的创新主线。黄若谷表示，制造业公司占上市公司总数的2/3，市值的2/5，影响面非常广。在国家鼓励支持下，制造业升级最快捷的方法是借助牛市融资，然后到欧美收购先进企业。特别看好智能制造、绿色制造和高端装备这三大投资方向。在此基础上，偏好有并购整合及海外扩张经验或潜力的公司，建议投资相应的股票组合。

"Made in China 2025" will be the second half of the most extensive impact on the main line of innovation. Huang said that manufacturing companies accounted for 2/3 of the total number of listed companies, the market value of 2/5, the impact is very wide. In the country to encourage support, the most efficient way to upgrade the manufacturing industry is by means of a bull market financing, and then to the United States and Europe to acquire advanced enterprise. Particularly optimistic about intelligent manufacturing, green manufacturing and high-end equipment, the three major investment direction. On this basis, the preference for mergers and acquisitions integration and overseas expansion experience or potential of the company, it is recommended to invest in the corresponding stock portfolio.

建议投资者在三季度继续看重成长性公司及传统转型公司的机会。“中国制造2025”是成长的大风口，建议沿智能制造、工业互联网、应用端三个领域进行配置。其中，智能制造领域中的机械、军工、新材料，工业互联网领域中的通信、电子、计算机，应用端领域中的电力设备与新能源、汽车、生物医药将受益。国泰君安还推荐了供应链金融3.0、迪士尼、国企改革及新能源汽车主题。市场风险偏好提升使得次新股板块集中受益，也是其推荐的方向。

It is recommended that investors in the three quarter continue to value growth firms and the opportunity to transform the company. "Made in China 2025" is the growth of the wind mouth, it is recommended along the intelligent manufacturing, industrial Internet, the application of the three areas of the configuration. Among them, the intelligent manufacturing in the field of machinery, military industry, new materials, electric power equipment in the field of industry in the field of the Internet communication, electronics, computer, application side and new energy, automotive, biomedical will benefit. Guotai Junan also recommended the supply chain finance 3, Disney, the reform of state-owned enterprises and new energy automotive theme. Market risk appetite to enhance the new shares to benefit from the plate, but also the direction of its recommended.

赵扬表示，看好科技股。他认为，科技股将贯穿本轮牛市，类似于2006年至2007年牛市的金融地产。赵扬认为，工业化中后期经济增长更多依靠技术和创新驱动。具体到细分领域，最为看好“中国制造2025”，其次是“互联网 ”。

Zhao Yang said, optimistic about the stock of science and technology. He believes that technology stocks will run through the current round of bull market, similar to the 2006 to 2007 bull market financial real estate. Zhao Yang believes that industrialization in the late economic growth depends more on technology and innovation driven. Specific to the breakdown of the field, the most promising Chinese made 2025, followed by the internet".

迎战新一轮洗牌

Against a new round of reshuffle

6月6日，中国科学院中国现代化研究中心发布的《中国现代化报告2015》显示，2010年中国工业经济水平比德国、英国大约落后100多年，比日本落后约60多年。

On June 6, Chinese Academy of Sciences, China's Modernization Research Center released the "China modernization report 2015" show that in 2010 the level of China's industrial economy than Germany, the United Kingdom, about backward 100 years, compared with that of Japanese backward about 60 years.

无论落后多少，现实是，中国必须嵌入全球产业链、供应链中，并找到除低端制造外的精准定位。

No matter how much behind, the reality is that China must be embedded in the global industrial chain, supply chain, and to find the precise positioning in addition to low-end manufacturing.

据英国《金融时报》报道，全球供应链（来自不同地方的中间产品和服务经由它进入成品生产）已改变世界，在全球贸易中的占比接近80%，其中包括约12万亿美元的中间产品和服务贸易。

According to the British "Financial Times" report, global supply chain (from different parts of the intermediate products and services through it into the production of finished products) has changed the world. In the global trade accounted for nearly 80%, including about $12 trillion of intermediate products and trade in services.

渣打全球题材研究主管祈文礼（JohnCalverley）把中国制造业工资水平上升视为一种颠覆性趋势，全球供应链因中国传统制造业低价优势的丧失而重新整合。

Standard Chartered global theme research director pray boon lay JohnCalverley to Chinese manufacturing wages rise regarded as a disruptive trends, global supply chain because of the traditional manufacturing industries in China, the price advantage loss and re integration.

渣打银行的研究显示，未来十年，全球供应链性质的改变将重塑全球贸易格局。身为全球最大供应链源头的中国，将剥离很大一部分低成本制造业。印度和东盟可能从此次低成本制造业迁移中获益，孟加拉国和非洲也将分得一杯羹。

Standard Chartered Bank's research shows that the next ten years, the global supply chain nature of the change will reshape the global trade pattern. China, the world's largest supplier of supply chain, will be stripped of a large part of the cost of manufacturing. India and ASEAN may benefit from the low cost manufacturing migration, Bangladesh and Africa will also share a cup of soup.

中国围绕“一带一路”计划建设基础设施的战略，预示着全球供应链将扩张至相对较新的地区。

China around "The Belt and Road" plans to build infrastructure strategy, indicates that the global supply chain will expand to the relatively new area.

一项对中国华南地区制造业的调查显示，华南制造业中心11%的工厂计划迁往海外。中国在新地理空间中重新获得基础设施空间，同时成为东盟等经济体的装备、器材供应方。

A survey of China's manufacturing industry in Southern China, Southern China manufacturing center 11% of the plant plans to move overseas. China in the new geography space regain space infrastructure, at the same time as ASEAN economies such as equipment, equipment suppliers.

从手机供应链来看，全球最有活力的手机企业基本上以亚洲为主，其中最主要的两股势力来自中国和韩国。截至2014年，中国的小米、华为、联想、酷派、中兴、TCL、Vivo、OPPO、金立等9家公司占全球市场份额的31.3%。韩国仅靠三星和LG就占到30.1%的份额，接近上述中国9家公司的总和。事实上，韩国厂商在手机制造上实现了全球化布局。其中，三星约有50%的手机在越南生产。

From the point of view of the mobile phone supply chain, the most dynamic mobile phone companies in the world, mainly in Asia, the most important of the two forces from China and South korea. By the end of 2014, Chinese millet, Huawei, Lenovo, Coolpad, ZTE, TCL, vivo, oppo, Jin and other nine companies accounted for 31.3% of global market share. South Korea alone on Samsung and LG accounted for 30.1% of the share, close to the sum of the 9 companies in china. In fact, South Korean manufacturers in the mobile phone manufacturers to achieve a global layout. Among them, about 50% of Samsung's mobile phone production in vietnam.

由于技术优势，三星、LG等韩国企业不仅占有部分终端市场，还是手机零部件最重要的供应商。手机液晶屏、闪存、处理器、摄像头等关键零件，中国手机厂商需要大量从韩国企业采购。苹果iPhone6所采用的屏幕就来自LG供应的液晶屏幕，iPhone6卖得越好，LG的产品也就卖得越好，并从中分享部分利润。

Due to technical advantages, Samsung, LG and other South Korean companies not only occupy some of the terminal market, or mobile phone parts and components of the most important suppliers. Mobile phone LCD screen, flash memory, processor, camera and other key parts, the Chinese mobile phone manufacturers need a large number of Korean companies to purchase. Apple iPhone6 using the screen from the LG supply of the liquid crystal screen, iPhone6 sell better, LG products will sell better, and share some of the profits from.

中国手机企业具备学习与营销能力，具有平台资源整合能力，但基本上不具备芯片级的技术与制造能力，核心零件依赖进口，比如手机芯片要么采购高通的骁龙系列，要么从三星购买。手机的液晶屏也主要来

Chinese mobile phone companies have the ability of learning and marketing, the platform has the ability to integrate resources, but basically do not have chip technology and manufacturing capacity, rely on imports of key components, such as mobile phone chip or procurement Qualcomm's snapdragon family or from Samsung purchase. Mobile phone LCD screen is mainly to