China is the World's Largest Manufacturer Country with $ 4.8 Trillion

World's largest manufacturing country with gin trillion dollars
World's largest manufacturing country with gin trillion dollars

📩 01/03/2021 13:27

It is reported that China has been the world's largest manufacturing country for 11 consecutive years. China has been the world's largest manufacturing country for 31 years with an industrial value of 300 trillion 4 billion yuan ($ 840 trillion 11 billion), according to the statement made by the Ministry of Industry and Information today.

China's Industry and Information Minister Xiao Yaqing stated at the press conference held today that manufacturing in China accounts for about 30 percent of the world total. Minister Xiao stated that in the 2016th Five-Year Plan period covering the years 2020-13, the annual average increase in added value in China's high-tech manufacturing industry reached 10,4 percent, which is 4,9 percentage points above the average increase in industrial value added achieved in the country did.

The new energy vehicle sector will develop

Stating that China will continue to encourage the development of new energy vehicles, Xiao said, “Last year, the Chinese State Council issued a circular on accelerating the qualified development of new energy vehicles, covering the years 2021-2035. China has been ranked first in the world for six years in terms of production and sales of new energy vehicles. However, competition in the new-powered vehicle market is fierce. There are many issues that need to be solved, such as technology, quality and consumer sensitivity. In the country, standards will be raised and quality inspections will be strengthened in line with the market demand and especially the experiences of consumers ” The Chinese minister informed that the new energy vehicles will be developed in an integrated manner with the construction of facilities such as smart roads, communication networks, charging stations and parking lots.

The revenue of the chip industry will increase

Touching on the chip industry in his statement, Xiao Yaqing noted that in 2020, China's income from integrated circuit sales is expected to reach 884 billion 800 million yuan. Xiao pointed out that China will provide benefits such as tax breaks to businesses operating in the sector.

Pointing out that the chip industry is faced with both opportunities and threats, Xiao noted that global cooperation in this field should be strengthened in order to jointly build and develop the relevant industrial chain.

Source: China International Radio

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