China accounted for 30 per cent of the global manufacturing output in 2021, an increase from 22.5 per cent in 2012, data from the industry regulator showed on Tuesday.
Xin Guobin, Vice Minister of industry and Information Technology, said in a news conference that the manufacturing value-added output had expanded from 16.98 trillion yuan (about 2.5 trillion dollars) in 2012, to 31.4 trillion yuan in 2021.
Xin said that though the geo-political conflicts and COVID-19 resurgence had added downward pressure on the industrial economy, the impacts would be temporary. From a long-term perspective, the fundamentals of China’s complete and resilient manufacturing system has not changed. The vice minister said that with the continuous support policies, the industrial economy was expected to return to the normal track as soon as possible.