With a steady economic recovery, China has moved to modernize its industrial system and develop new quality productive forces at an accelerated pace. The following are some facts and figures highlighting the country's progress in the area this year.

INDUSTRIAL ADDED VALUE

The added value of major equipment manufacturers went up 8.6 percent year on year in the first two months of 2024, 1.6 percentage points higher than the average growth of all industrial enterprises.

The high-tech manufacturing sector registered a 7.5 percent increase in added value, driven by a 41.2 percent surge in semiconductor equipment, a 21.6 percent jump in integrated circuits, and an 18.2 percent increase in intelligent unmanned drones.

TECH PRODUCTS

China reported rapid growth in the production of intelligent and green products in the January-February period. The output of service robots and 3D printing equipment climbed 22.2 percent and 49.5 percent from a year earlier, respectively.

Production of new energy vehicles rose by 25.6 percent compared to the same period of the previous year, while the number of charging piles surged by 41.8 percent. Ultra-white glass for the solar industry experienced a remarkable 89.8 percent growth.

INVESTMENT IN EMERGING INDUSTRIES

Emerging industries remained a strong magnet for new investment. Capital inflow into high-tech industries grew by 9.4 percent year on year in the first two months, with the manufacturing sector also witnessing a notable 15.1 percent increase in funds allocated for technological upgrades.

New energy investment continued to boom, with the solar power and wind power sectors witnessing 46.4 percent and 17.7 percent increases, respectively.

NEW BUSINESS MODELS

New business models continued to thrive, with live commerce and instant delivery driving the consumption momentum. In the January-February period, online sales of goods gained 14.4 percent year on year, accounting for 22.4 percent of the country's total retail sales of consumer goods.