China Leads Global Manufacturing Growth for 15 Years, strengthening its position as the world’s top industrial power. For 15 consecutive years, the country has driven global expansion, contributing more than 30 per cent of worldwide manufacturing growth.
High-Tech and Equipment Manufacturing Growth
Between 2020 and 2024, China’s equipment manufacturing industry grew at an average of 7.9 per cent, while high-tech sectors expanded by 8.7 per cent. In 2024 alone, the nation produced over 13 million new energy vehicles (NEVs), remaining the global leader in NEV production and sales for the tenth straight year.
Innovation and Industrial Breakthroughs
China is advancing rapidly in industrial innovation. Research and development spending by large manufacturers now exceeds 1.6 per cent of their revenue. Major achievements include the Chang’e lunar landing, the commercial launch of the C919 passenger jet, and the debut of Adora Magic City, China’s first domestically built large cruise ship.
Enterprise Competitiveness and SME Growth
Since 2020, the number of above-scale industrial enterprises has risen by 138,000. In 2024, 64 Chinese manufacturers ranked in the Fortune Global 500, showing stronger competitiveness. Meanwhile, more than 60 million SMEs are registered across the country, including over 140,000 specialised and innovative firms that continue to boost economic vitality.
Global Leadership in Key Products
China Leads Global Manufacturing Growth for 15 Years by dominating in over 220 key industrial products. Since 2021, the sector’s annual added value has increased by more than 30 trillion yuan ($4.2 trillion), confirming China’s central role in shaping the global industrial landscape.
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