Beijing: China's manufacturing value-added output is expected to have increased by more than 8 trillion yuan (about 1.13 trillion U.S. dollars) during the 14th Five-Year Plan period (2021-2025), contributing over 30 percent of global growth, an official said on Tuesday. China has maintained its position as the world's largest manufacturer for 15 straight years, Li Lecheng, minister of industry and information technology, told a press conference.
According to Bahrain News Agency, China has demonstrated significant influence on the global manufacturing landscape during this period. The substantial increase in its manufacturing output has reinforced its pivotal role in the global economy. The continuous growth over the past 15 years highlights China's ability to sustain its industrial expansion and maintain its leadership in global manufacturing.
Li Lecheng emphasized the importance of the manufacturing sector to China's economic strategy, underlining its contribution to both national and international economic dynamics. The country's efforts in advancing technological innovation and enhancing manufacturing capabilities have been central to achieving this growth. The strategic planning under the 14th Five-Year Plan has been instrumental in guiding this sustained development.
China's robust manufacturing growth has implications beyond its borders, affecting supply chains and economic trends worldwide. The significant share of global growth attributed to China underscores the interconnected nature of modern manufacturing and the global economy. As China continues to enhance its manufacturing sector, it is likely to further influence global industrial patterns and economic policies in the coming years.