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Friday, November 15, 2024

Home Business China leads global manufacturing sector for 14 consecutive years

China leads global manufacturing sector for 14 consecutive years

by News desk
January 20, 2024
in Business

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China has remained the world’s top manufacturing hub for 14 consecutive years, the Ministry of Industry and Information Technology (MIIT) said Friday. The country’s large manufacturing enterprises, each of which has an annual main business turnover of at least 20 million yuan (about 2.8 million U.S. dollars), saw their combined value-added output increasing 5 percent year on year in 2023, said Xin Guobin, vice minister of MIIT, at a press conference. The total value-added industrial output went up 4.6 percent year on year in 2023, up 1 percentage point from that of 2022, Xin said.—Xinhua