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China's secondary, tertiary industries see 52.7% growth in 2018-2023

28 Dec '24
2 min read
China's secondary, tertiary industries see 52.7% growth in 2018-2023
State Council Information Office holds a press conference in Beijing on the outcomes of the fifth national economic census. Pic: Liu Jian/China SCIO

Insights

  • China had 33.27 million registered entities in secondary and tertiary industries by the end of 2023, up 52.7 per cent since 2018, employing over 428.98 million people, an 11.9 per cent increase.
  • The census, which incorporated digital economy data, revealed 2.92 million digital enterprises with annual revenues of 48.45 trillion yuan (~$6.74 trillion).
By the end of 2023, China had 33.27 million registered entities operating in the secondary and tertiary industries, representing a 52.7 per cent growth since the end of 2018, as per China’s fifth national economic census. Both the industries employed more than 428.98 million people by the end of 2023, reflecting an 11.9 per cent increase compared to 2018.

The census results also revealed a notable rise in the number of businesses and individuals employed in China's secondary and tertiary industries and incorporated data on the digital economy for the first time as there were nearly 88 million self-employed units employing a total of 179.56 million individuals.

Kang Yi, head of the National Bureau of Statistics (NBS) at a press conference on the census said that the results indicate a substantial growth in the number of organisations and individuals working in China's secondary and tertiary sectors, reported China’s state-owned media outlet.

Kang also stated that technological innovation capacity and labour productivity have steadily improved, further noting that the industrial structure has been refined and the digital economy has seen strong growth.

As of the end of 2023, China had 2.92 million corporate enterprises in the core industries of the digital economy, employing 36.16 million people, with annual business revenue totalling 48.45 trillion yuan (~$6.74 trillion).

Kang highlighted that a scientifically formulated plan and stringent data quality control ensured reliable census results.

ALCHEMPro News Desk (SG)

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