China ranks first globally in the number of lighthouse factories, according to the latest update to the World Economic Forum’s (WEF) Global Lighthouse Network.

Sixteen Chinese factories were added to the network on Jan.15, accounting for about 70% of all new entrants and bringing China’s total to 101 lighthouse factories, the WEF said.

Launched in 2018 by the WEF and consulting firm McKinsey, the Global Lighthouse Network recognises leading industrial sites that deploy Industry4.0 technologies at scale to deliver step-change improvements in financial performance, operational efficiency and sustainability by transforming factories, value chains and business models.

In September last year, the WEF revamped the network’s award framework, expanding the original three categories—Sustainability Lighthouses, Factory Lighthouses and End-to-End Value Chain Lighthouses—into five new focus areas: Customer Centricity, Productivity, Supply Chain Resilience, Sustainability and Talent.

Explore more exclusive insights at nextfin.ai.

China's Foreign Trade Up 3.5% in First Seven Months