Industrial upgrading
Minister of Industry and Information Technology Jin Zhuanglong revealed in response to reporters' questions at the "ministerial channel" today that in 2022, China's industrial economy will stabilize and improve, with the industrial added value exceeding 40 trillion yuan for the first time and the industrial added value above the scale growing by 3.6% year on year, further showing the "ballast stone" role of industry in the macro-economic market. Among them, the value added of manufacturing industry accounts for 27.7% of the whole GDP. The scale of Chinese manufacturing industry has ranked first in the world for 13 consecutive years.
Kim pointed out that the purchasing managers' Index (PMI) for the manufacturing sector was above 50 percent in both January and February, indicating that the manufacturing sector is in the business zone. Based on the analysis of enterprises' electricity, labor and logistics, our industry is in a good upturn. He said that the next focus will be on promoting the growth of key industries, increasing investment, expanding consumption and giving full play to local initiatives to further promote stable industrial growth.
In addition, Jin said that China's traditional industries have a large volume, accounting for more than 80 percent of the manufacturing industry. The traditional industry is the base of the modern industrial system, and the transformation and upgrading of the traditional industry has a direct bearing on the overall construction of the modern industrial system. The Ministry of Industry and Information Technology is strengthening top-level planning, focusing on high-end, intelligent and green industries, and formulating guidelines for accelerating the transformation and upgrading of traditional industries, so as to move traditional industries from the low end to the medium-high end.
