China’s Been the World’s Largest Manufacturer for 11 Years

A recent press conference on the development of industry and information technology revealed that in 2020, China’s industrial added value reached RMB 31.3 trillion, making it the world’s largest manufacturer for 11 consecutive years.

Looking ahead, the Ministry of Industry and Information Technology (MIIT) will focus on improving the modernization of the industrial chain and supply chain, and transforming China into a manufacturing power with strong cyberspace capabilities.

Data show that during the 13th Five-year Plan period (2016-2020), China’s industrial added value grew from RMB 23.5 trillion to 31.3 trillion, and specifically, the growth rate of the added value in the hi-tech manufacturing industry averaged 10.4 percent.

The ministry will proceed from five aspects. First, it will further implement the innovation-driven development strategy; second, it will enhance the stability and competitiveness of industrial and supply chains and create new advantages for future development; third, it will optimize China’s industrial structure; fourth, it will accelerate the development of the digital economy to create new growth drivers; and fifth, it will further deepen reform and broaden opening-up.