BUSINESS China's industrial clusters see rapid development

BUSINESS

China's industrial clusters see rapid development

Xinhua

21:24, September 23, 2022

BEIJING, Sept. 23 (Xinhua) -- The development of China's industrial clusters accelerated recently, with the output value of 25 advanced manufacturing clusters growing steadily in the first half of the year, an official said on Friday.

A worker is busy on the production line at the weaving workshop in an economy development zone in Lianyungang, east China's Jiangsu Province, Oct. 19, 2020. (Photo: Xinhua)

The 25 advanced manufacturing clusters generated an output value of 6.2 trillion yuan (about 886.73 billion U.S. dollars) in the January-June period, rising 6.1 percent from the same period last year, Wang Wei, an official with the Ministry of Industry and Information Technology, told a press conference.

These clusters encompass more than 1,000 "little giant" companies, representatives of the novel elites of China's small and medium-sized enterprises that specialize in a niche market, boast cutting-edge technologies, and show great potential.

Friday's press conference also showed that China established 445 national-level demonstration zones for new industrialization based on previous development zones and industrial parks.

The demonstration zones have contributed nearly 30 percent of the country's total value-added industrial output and more than 30 percent of its imports and exports, serving as a driving force in promoting high-quality development of the regional manufacturing sector, data from the ministry showed.

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