China holds majority of world's 'lighthouse factories'

China has the highest number of "lighthouse factories"- manufacturers that show leadership in using Fourth Industrial Revolution technologies, the Securities Times reported on Thursday.

Twelve Chinese companies have been included in the 11th batch of "lighthouse factories" list released by the World Economic Forum, making the total of Chinese factories on the list reach 62.

Global Lighthouse Network is a community of manufacturers showing leadership in using Fourth Industrial Revolution technologies to transform factories, value chains and business models for compelling financial and operational returns, according to World Economic Forum.

It is a World Economic Forum initiative in collaboration with McKinsey which examines the future of operations and considers how Fourth Industrial Revolution technologies are shaping production.

The number of China's "lighthouse factories" grew explosively with diversified highlights. As of December 2023, the world has a total of 153 "lighthouse factories" - 40.52 percent of which are located in China.

From the perspective of industry distribution, China's "lighthouse factories" are mostly concentrated in bulk consumption areas, including household appliances, automobiles and other industries, with a total of more than 20 "lighthouse factories", accounting for nearly one-third of the total.

In recent years, China has made continuous breakthroughs in the field of advanced technologies such as artificial intelligence, big data and 5G, and manufacturing companies are at the forefront of digital, intelligent and green transformation, promoting China to gradually move from a major manufacturing country in the world to a manufacturing powerhouse.

China's remarkable achievements in the development of "lighthouse factories" reflect the country's strong strength and competitiveness in the field of manufacturing, the report said.