By hannover-web.com In the first three quarters of this year, there has been notable growth across 31 provinces and 41 major industrial sectors, indicating a steady performance in China’s industrial economy, as reported at a recent press conference by the State Council Information Office.
Zhao Zhiguo, the spokesperson and chief engineer of the Ministry of Industry and Information Technology, highlighted that the industrial and information sectors have shown stable economic operations, continuously optimizing the industrial structure. He noted a significant development in new types of productivity, significant innovations in key areas, and a solid advancement toward high-quality growth.
When asked about the highlights of the industrial performance this year, Zhao explained, “Industrial production remains stable and serves as a ‘ballast’ for macroeconomic growth.” He pointed out that over 90% of the provinces and industrial sectors have shown growth. Notably, the equipment manufacturing and high-tech sectors have experienced rapid increases, raising their share of the total industrial value-added output compared to last year. Furthermore, industrial investment has maintained double-digit growth for eight consecutive months.
Key industries and regions have made remarkable contributions to this growth. The implementation of ten key industry stabilization plans has harnessed the strengths of major industrial provinces and cities. The electronics, non-ferrous metals, chemicals, and automotive industries are key players, accounting for nearly half of the industrial growth. Furthermore, nine industrial provinces have outpaced the national average growth rate, with cities like Zhengzhou, Shaoxing, Wenzhou, and Hefei achieving double-digit growth.
The momentum for development continues to build, driven by initiatives to update equipment and technology in the industrial sector and to facilitate the transformation of scientific and technological achievements into productive forces. Investments in equipment and tools have surged by 16.4% year-on-year, with high-tech products like AI chips and servers also seeing significant production increases.
Looking ahead, Zhao emphasized the ministry’s focus on accelerating a new type of industrialization and enhancing efforts in stabilizing growth, expanding demand, boosting momentum, and optimizing the environment. He proposed deeper implementation of major technology upgrades and large-scale equipment renewal in manufacturing, while promoting digital transformation in the sector. There are plans to accelerate high-quality development actions for key industrial chains and various national research projects to achieve more landmark results.
Zhao also reported substantial advancements in industrial innovation this year. Milestones include the successful commissioning of an 18 MW offshore wind turbine, the operation of the C919 large passenger aircraft with all three major domestic airlines, and the certification of a 1000 kW turbo shaft engine by the Civil Aviation Administration of China. These developments signal a strong push towards high-quality growth in the industrial sector.
In addition, the pace of manufacturing transformation is accelerating, with 13 Chinese companies recently recognized as global “lighthouse factories,” bringing the total in China to 72, which is 42% of the global total. Initiatives to digitalize SMEs have also progressed significantly, with approximately ten thousand firms undergoing transformations. Moreover, actions aimed at improving energy efficiency and reducing carbon emissions are underway, focusing on clean hydrogen and environmental equipment manufacturing, leading to a decline in energy consumption per unit of industrial value-added.
As of the end of August, the number of large-scale industrial enterprises reached 504,000, marking a 4.4% increase since the end of 2023. Additionally, 1,557 champion manufacturing enterprises and over 140,000 specialized and innovative SMEs have been nurtured, with a significant number of high-tech firms actively operating in the market. The profitability of specialized SMEs exceeds the average level for large-scale industries.
Zhao acknowledged the challenges posed by changes in the external environment, leading to difficulties for some businesses. However, he emphasized the resilience of China’s economic fundamentals, maintaining a complete industrial system, comprehensive supply chains, and competitive manufacturing costs. Recent policy initiatives are expected to bolster industrial upgrades, stimulate consumer spending, and energize business entities.
The role of the information and communication technology sector continues to expand. Zhao stated that new-generation information technologies are rapidly being integrated into various industries including manufacturing, mining, energy, and healthcare. In the first three quarters, telecommunications business volume grew by 10.7% year-over-year, showcasing the sector’s empowering potential.
Emerging businesses are seeing rapid growth as well. From January to August this year, revenue from internet and related services reached 1.17 trillion yuan. New fields such as data centers, big data, and cloud computing are driving the development of the information and communications industry, with revenue from telecommunications emerging businesses reaching 325.2 billion yuan, reflecting a year-over-year increase of 9.4%.
Infrastructure capabilities are also improving steadily. By the end of September, over 4 million 5G base stations had been built, with a penetration rate of 69.6% for 5G users and nearly 200 million gigabit broadband users. The applications of 5G technology span across 76 major sectors of the national economy, indirectly boosting total output by approximately 14 trillion yuan.
Lastly, the overall strength of the information and communications industry is on the rise. Major Chinese telecommunications firms have significantly improved their international competitiveness, with China Mobile, China Telecom, and China Unicom ranking among the top 10 global operators by revenue. The mobile device market is also showing positive trends, with a 9.9% year-over-year increase in domestic smartphone shipments recorded from January to September.
In conclusion, Zhao reiterated the ministry’s commitment to a coordinated approach to building, utilizing, and researching in the information and communications sector, which will provide strong support for strengthening manufacturing, enhancing network capability, and advancing digitalization in China.
