China's industrial economy sees steady growth in 2022

China's industrial economy posted overall steady growth in 2022, according to the country's national industry and information conference held. This was reported by The Xinhua News Agency.

The country's value-added industrial output of industrial firms with annual main business revenue of at least ¥20 mln (about $2.95 mln) rose 3.6% year on year in 2022, the conference estimated.

The value-added industrial output of manufacturing climbed 3.1% year on year. Its share in GDP was expected to reach 28%, up 0.5 percentage points over 2021.

By the end of 2022, the country had over 70,000 specialized and sophisticated enterprises that produce new and unique products, and more than 2.3 mln 5G base stations had been built.

The conference expected the country's telecom business volume to expand 8% year on year in 2022.