China injects more certainty into global industrial and supply chains

China is not only the beneficiary and defender of the integrated development of global supply chains, but also the explorer and builder of a new ecology of global supply chains, and plays a pivotal role in the global manufacturing and supply chain system.

By 2023, China was the only country to possess all sections in the United Nations' International Standard Industrial Classification of All Economic Activities. The added value of China's manufacturing industry accounted for nearly 30 percent of the total added value of the global manufacturing industry, and its scale of the manufacturing industry has ranked first in the world for 13 consecutive years. The industries such as high-speed rail, electric power equipment, construction machinery and shipbuilding have gained worldwide reputation.

In 2023, the exports value of China's equipment manufacturing industry accounted for more than half of the country's total export value.

Exports of the three major tech-intensive green products, or the "new three" — electric vehicles, lithium-ion batteries and solar cells - exceeded the trillion-yuan threshold for the first time, and mechanical and electrical products accounted for nearly 60 percent of the country's total export value.

The three major indicators of vessel completion, new orders and orders-in-hand in the shipbuilding industry also led the world in 2023.

As the world's second-largest economy, China provides a stable supply to the world, injecting more certainty into a global supply chain that is facing many risks and challenges.