China ranks first globally in manufacturing value added

Robots working on a production line at a local automobile technology company in Huanghua city of Cangzhou, north China's Hebei Province, July 6, 2019. (Xinhua/Yang Shiyao)

Manufacturing is the foundation of the real economy and the lifeblood of the national economy. In the past decade, China’s manufacturing has scaled up rapidly, developing industry clusters and supply chains with global competitiveness and resilience.

In a production and debugging workshop of industrial robotic systems in Yizhuang town, Beijing, robots can automatically complete the entire production process, including grabbing, carrying, welding, grinding, glue coating, and so on.

With the widespread use of robots in manufacturing over the last ten years, China's industrial robots have been on the rise. In 2021, China produced 366,000 units of industrial robots, representing a 10-fold increase over 2015 and maintaining the largest market in the world.

Furthermore, China's high-end equipment manufacturing industry has also advanced rapidly. Large shield machines, which construct subways, highways, and tunnels crossing through difficult terrain, accounted for two-thirds of the global market. And the 350 km/h Fuxing high-speed rail has become a superb representative of Chinese manufacturing.

Over the past decade, China's manufacturing value increased from 16.98 trillion yuan to 31.4 trillion yuan, accounting for nearly 30% of the global market and ranking top. Among the 500 major industrial products, more than 40% of China's production ranks NO.1 worldwide, indicating that domestic manufacturing's overall strength has improved significantly.

Source: CCTV Financial; Trans-editing by Guo Yao