In the past, China's traditional manufacturing industry was characterized by low costs and high resource consumption. Nowadays, however, significant progress has been made in industrial development, taking on a path towards advancement in technology and intelligence.
The manufacturing industry plays a leading role in China’s national economy. According to the report of the 20th National Congress of the Communist Party, “China’s manufacturing sector is the largest in the world.” As the global manufacturing industry accelerates its digital transformation, new technologies, products, and business types and models continue to emerge emerging in China, laying the foundations for it to become a real competitor in smart manufacturing.
Challenged by constant changes in the economic environment and market demand, as well as business development difficulties, China’s manufacturers are determined to move forward and grow as “hidden champions” – major industry players able to gain market share with high-quality products.
What is a hidden champion? The theory of the "hidden champion" was put forward by Hermann Simon, an author and management consultant. His model denotes certain companies as "hidden" because they are unknown to the majority of the public, while "champion" means that they possess significant market share, unique competitive strategies and unshakable leading positions in the market segments they serve.
In China, manufacturing is an important sector for generating new technologies and innovating business models. It’s also a pillar industry for the national economy. Against the backdrop of China’s “dual circulation” policy and the new normal of the post-pandemic era, Chinese manufacturers are faced with challenges in cost control, technological innovation, and transition to smart manufacturing, and they have to consider how to turn these pain points into a launchpad for future development.
In the face of the pandemic, CTIS postponed shows and listened to the voices of China’s manufacturers. Adhering to its mission of "creating a scenario for cross-boundary cooperation and a primary platform for global consumer technology development" as well as the positioning of "building a world-renowned consumer technology show brand in China", CTIS introduces a series of salons titled “Hidden Champions in China – 100 Silent Voices".
“We believe that in the process of coping with the constant changes in the market environment, China’s manufacturers will continue to forge ahead and thrive. These events will provide a platform for outstanding manufacturers to convey their stories to the public and make the hidden champions more visible.