The international competitiveness of China's low-end manufacturing industries is gradually declining.

The Central Economic Work Conference pointed out that from the perspective of the relative advantages of production factors, in the past, the low cost of labor was an advantage. By introducing technologies and management, it could quickly transform into productive forces. Now, with the increasingly serious aging population problem and the reduction of surplus agricultural labor, the scale-driven force of factors has weakened. Economic growth will rely more on the quality of human capital and technological progress. Innovation must be made the new driving force for development.