China accounted for 30% of the global manufacturing output in 2021, marking an increase from 22.5% in 2012 as the industry grew bigger and stronger, data from the industry regulator showed. This was reported by The Xinhua News Agency.
"The manufacturing value-added output had expanded from ¥16.98 trln (about $2.5 trln) in 2012 to ¥31.4 trln in 2021", – Xin Guobin, vice minister of industry and information technology, told.
"Although the geopolitical conflicts and COVID-19 resurgence have added downward pressure on the industrial economy, the impacts would be temporary", – Xin noted.
From a long-term perspective, the fundamentals of China's complete and resilient manufacturing system have not changed.
"With continuous support policies, the industrial economy is expected to return to the normal track as soon as possible", – the vice minister said.
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