BEIJING, 9th September, 2025 (WAM) -- China's manufacturing value-added output is expected to have increased by more than 8 trillion yuan ($1.13 trillion) during the 14th Five-Year Plan period (2021-2025), contributing over 30 percent of global growth, Minister of Industry and Information Technology Li Lecheng said on Tuesday.
Speaking at a press conference in Beijing, Li noted that China has maintained its position as the world's largest manufacturer for 15 straight years.
Between 2020 and 2024, the added value of China's equipment manufacturing industry achieved an average growth rate of 7.9 percent, while high-tech manufacturing saw growth of 8.7 percent, Global Times reported, citing Li as saying.
In 2024, China's new energy vehicle (NEV) production surpassed 13 million units, with the country's production and sales of NEVs topping the world for 10 consecutive years, according to Li.
Over the past five years, China's innovation investment has steadily increased, with research and investment (R&D) expenditure of above-scale manufacturing enterprises accounting for over 1.6 percent of their operating revenue.
China's industrial and technological innovation has entered a new phase characterised by accelerated "catch-up," increased "parallel development," and emerging "leadership" in key fields, Li said, referring to achievements including Chang'e landing on the moon, commercialisation of self-developed C919 aircraft, and China's first domestically built large cruise ship, Adora Magic City, entering operation.
The competitiveness of Chinese large enterprises has significantly improved during the 14th Five-Year Plan period, Li noted. As of July this year, the number of above-scale industrial enterprises increased by 138,000 compared to the end of 2020. In 2024, 64 manufacturing enterprises were selected into the Fortune Global 500.
Meanwhile, small and medium-sized enterprises have expanded rapidly, with registered SMEs surpassing 60 million and more than 140,000 “specialised and sophisticated” SMEs fostered nationwide.