China Must Seek Growth by Exporting Its Manufacturing Expertise, Says TCL Founder

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i Dongsheng speaking at the 15th Summer Davos Forum in Dalian on June 25, 2024.

China’s manufacturing sector, which contributes around 30% to global output, is unlikely to see further increases in its share, according to Li Dongsheng, founder and chairman of Chinese TV manufacturer TCL.

Speaking at the 15th Summer Davos Forum in Dalian Tuesday, Li emphasized that China’s next phase should focus on helping other countries develop their own industries.

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China's manufacturing sector, contributing 30% to global output, is not expected to increase its share further.
Li Dongsheng of TCL suggests China's next phase should involve helping other countries develop their industries and investing globally to foster local job creation and economic growth.
Despite U.S. tariffs on Chinese goods, Chinese companies have adapted by rerouting trade, increasing Southeast Asia's growth but raising costs for American consumers.

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Who’s Who

TCL: TCL is a Chinese consumer electronics and new energy photovoltaics manufacturer, pioneering international manufacturing with over 20 global production facilities. The company established its first overseas factory in Vietnam in 1999 and its first European factory in Poland in 2004. More than 60% of TCL's consumer electronics and home appliance sales come from overseas markets. Founder and chairman Li Dongsheng advocates for globalizing China’s manufacturing and investing locally to create jobs and gain support from local governments.

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What Happened When

1999：: TCL established its first overseas factory in Vietnam.

2001：: China joined the World Trade Organization and began attracting foreign investment to bolster its manufacturing capabilities.

2004：: TCL acquired its first European factory in Poland to serve the European Union.

As of Today：: TCL operates more than 20 production facilities worldwide, with more than 60% of its consumer electronics and home appliance sales coming from overseas markets.

Tuesday, June 25, 2024：: Li Dongsheng, founder and chairman of TCL, spoke at the 15th Summer Davos Forum in Dalian and emphasized the next phase of China's development should be helping other countries develop their own industries.

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