China's industrial added-value reached $4.84 trillion in 2020, No.1 manufacturing economy for 11 consecutive years

[xizhimen]

SOURCE / ECONOMY
China's industrial added-value reached $4.84 trillion in 2020, No.1 manufacturing economy for 11 consecutive years

By Global TimesPublished: Mar 01, 2021 10:22 AM

Photo: Xinhua
China's industrial added-value reached $4.84 trillion in 2020, No.1 manufacturing economy for 11 consecutive years

China's industrial added-value reached $4.84 trillion in 2020, No.1 manufacturing economy for 11 consecutive years - Global Times

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[ekemenirtu]

That figure probably refers to the manufacturing value added rather than the industry value added.

To be clear, "industry value added" refers to the value added in the

1. Mining
2. Manufacturing sector
3. Construction
4. Electricity
5. Water and
6. Gas

Data Catalog

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Industry (Including Construction), Value Added (% Of GDP)​

Industry corresponds to ISIC divisions 10-45 and includes manufacturing (ISIC divisions 15-37). It comprises value added in mining, manufacturing (also reported as a separate subgroup), construction, electricity, water, and gas. Value added is the net output of a sector after adding up all outputs and subtracting intermediate inputs. It is calculated without making deductions for depreciation of fabricated assets or depletion and degradation of natural resources. The origin of value added is determined by the International Standard Industrial Classification (ISIC), revision 3 or 4.

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All Countries and Economies​

Country	Most Recent Year	Most Recent Value (Millions)
China	2019	5,589,793.78
United States	2018	3,835,854.00
Japan	2018	1,440,462.06
Germany	2019	1,031,064.01

If we compare the Chinese manufacturing value added with that of other populous developing countries such as India, Indonesia, Brazil or perhaps Russia, the number is indeed impressive.

World Bank Open Data

Free and open access to global development data

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[xizhimen]

China remains world's top manufacturing hub for 11 consecutive years

18:48 UTC+8, 2021-03-01
China has maintained its position as the world's largest manufacturing hub for 11 straight years, accounting for nearly 30 percent of the global manufacturing output, according to the Ministry of Industry and Information Technology (MIIT).

In the past five years, the value-added industrial output in China has increased from 23.5 trillion yuan (about 3.63 trillion US dollars) to 31.3 trillion yuan, Xiao Yaqing, minister of MIIT, said Monday.

During the 13th Five-Year Plan (2016-2020) period, the average growth rate of the value-added output from China's high-tech manufacturing sector reached 10.4 percent, up 4.9 percentage points from that of the overall industrial output, MIIT data showed.

The information transmission and software and information technology service industries have seen remarkable progress during the period. Their value-added industrial output surged from 1.8 trillion yuan to 3.8 trillion yuan with the proportion in gross domestic product growing from 2.5 percent to 3.7 percent, Xiao added.

By the end of 2020, household penetration of fixed broadband in China reached 96 percent, while the mobile broadband penetration rate came in at 108 percent, the data showed.

In terms of 5G development, the country has built a total of 718,000 5G base stations by the end of last year, with the number of mobile terminals connected to the network exceeding 200 million, according to the MIIT.

China remains world's top manufacturing hub for 11 consecutive years

China has maintained its position as the world's largest manufacturing hub for 11 straight years, ac

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