China 2024-03-15T05:20:58+02:00
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China's industrial clusters see rapid development

China's industrial clusters see rapid development

economics, China, PRC, Industrial cluster, Development zone, Industrial park
A complete vehicle production line at a new energy vehicle factory in Hefei, east China's Anhui Province. Photo by Xie Chen/Xinhua.
A complete vehicle production line at a new energy vehicle factory in Hefei, east China's Anhui Province. Photo by Xie Chen/Xinhua.
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The development of China's industrial clusters accelerated recently, with the output value of 25 advanced manufacturing clusters growing steadily in the first half of the year, an official said. This was reported by The Xinhua News Agency.

"The 25 advanced manufacturing clusters generated an output value of ¥6.2 trln (about $886.73 bln) in the January-June period, rising 6.1% from the same period last year", – Wang Wei, an official with the Ministry of Industry and Information Technology, told a press conference.

These clusters encompass more than 1,000 "little giant" companies, representatives of the novel elites of China's small and medium-sized enterprises that specialize in a niche market, boast cutting-edge technologies, and show great potential.

Press conference also showed that China established 445 national-level demonstration zones for new industrialization based on previous development zones and industrial parks.

The demonstration zones have contributed nearly 30% of the country's total value-added industrial output and more than 30% of its imports and exports, serving as a driving force in promoting high-quality development of the regional manufacturing sector, data from the ministry showed.



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