2024: Breakthroughs in China

In 2024, China has achieved multiple breakthroughs in key areas such as the economy, technology, and culture. For the first time, the number of Chinese manufacturing enterprises has exceeded 6 million; annual production of new energy vehicles has reached 10 million units; express deliveries have surpassed 150 billion parcels; 5G users have exceeded 1 billion; 5G base stations have surpassed 4 million; R&D investment has exceeded 3.3 trillion yuan; and the micro drama market size is set to exceed 50 billion yuan. A series of numbers has been refreshed, and behind each milestone lies China's high-quality economic development and the vivid practice of Chinese modernization.

China's manufacturing industry: From large to strong

Total number of manufacturing enterprises in China has exceeded 6 million for the first time.

As of Aug.31, 2024, the total number of manufacturing enterprises in China has surpassed 6 million, reaching 6.03 million, an increase of 5.53 percent compared to the end of last year. This growth presents three positive trends:

China's manufacturing sector is scaling up significantly. High-end manufacturing and strategic emerging enterprises are experiencing substantial growth, and small and medium-sized enterprises are evolving to become more precise and resilient.

China's manufacturing sector is strengthening. Over half of the top 500 enterprises belong to the manufacturing industry. The value added by manufacturing continues to grow, now accounting for more than 30 percent of the global share and maintaining China's position as the world leader for 14 consecutive years.

China's manufacturing sector is becoming more balanced. There is regional growth observed in the central, western, and northeastern regions. The industrial distribution spans thousands of industries and covers the entire industrial chain, creating China's unique competitive advantages through a comprehensive industrial system, diverse product offerings, and large-scale operations.