For every 100 yuan of revenue they generated, the costs they bore fell by 1.1 yuan from a year earlier to 88.7 yuan in April.

Wang said that manufacturing firms' confidence had been enhanced thanks to the gradual unleashing of policy dividends as a result of the country's lower value-added tax rate.

Innovation encouraged

In the long run, innovation will be the main engine to propel the expansion of China's manufacturing industry. To encourage corporate innovation, China unveiled various measures, including establishing a series of innovation centers and laboratories, increasing support for enterprises in key fields and optimizing innovation-oriented policies.

Wang said China will place greater emphasis on innovation in enterprises' development and urge them to increase research and development investment with more tax cuts and fund and loan issuances for innovation projects.

More efforts will be made to facilitate research on core technologies, accelerate the intelligent, green and service-oriented upgrading of the manufacturing industry, and advance the integrated development of the manufacturing industry and industrial internet, Wang said.

While enhancing resource sharing on various research platforms, the country will promote the application of scientific achievements, encourage domestic enterprises to carry out international innovation cooperation and intensify the protection of intellectual property.

Despite the disruptions from the increased tariffs imposed by the United States, Wang said the country's manufacturing industry has a bright prospect.

Official statistics showed that from January to April, actual foreign investment in China's manufacturing sector jumped 11.4 percent year on year.

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