Facing the severe challenges of global financial crisis, how shouldl Chinese manufacturing industry react? Just before the Spring Festival of 2009, the Chinese Mechanical Engineering Society, Society of Automotive Engineering of China, China Instrument and Control Society and China Electrotechnical Society jointly organized a seminar with the theme of "Global Economic Crisis and Chinese Manutacturing Industry", aimed at helping the Chinese enterprises to counterfight the challenge and explore development opportunities.

Prof. Cao Honghui, director of the office of financial market research, Institute of Finance, Chinese Academy of Social Sciences, delivered a speech entitled "An Age of Change: Global Financial Crisis and Chiense Manufacturing Industry". In the speech, he analysed the causes of US economic crisis and the opportunities and challenges faced by the Chinese manufacturing industry. He claimed that the Chinese manufacturing industry wil find the way out only through reform, and only innovation will help China to shift from a country of manufacturing to a powerful country of creation.