China's manufacturing industry's core is innovation: Gree president

The core of China's manufacturing industry lies in innovation, and Chinese enterprises must master core technologies as part of broader push to develop and transform the country's manufacturing sector, said Dong Mingzhu, Gree Electric Appliances chairwoman and president.

Deputy to the 13th National People's Congress Dong said Gree's revenue surged 50 billion yuan ($7.4 billion) last year, up 33 percent year-on-year, and that the key for this growth is the company's commitment to independent innovation and development.

"We concentrate on cultivating talent on our own. At present we have 14 research institutes, 13,000 technical employees and nearly 1,000 laboratories, with hopes of creating platforms and opportunities for youths who have dreams," Dong said from the sidelines of the ongoing annual two sessions.

Dong added the Guangdong province-based company has transformed from an air conditioner manufacturer into a modern, intelligent enterprise, engaged in numerical control machines, high-end equipment and industrial robots.