China Releases Work Plan to Stabilize Electronic Information Manufacturing Industry

A report from Xinhua on Sept. 7th, 2023:

China has recently released a work plan to promote the steady growth of the electronic information manufacturing industry.

The country is expected to see the average added value growth of the computer, communication, and other electronic equipment manufacturing sectors kept at about 5 percent from 2023 to 2024, according to the plan jointly issued by the Ministry of Industry and Information Technology and the Ministry of Finance.

The combined operating revenue of major enterprises should top 24 trillion yuan (about 3.34 trillion U.S. dollars) during the period, as per the document.

In expanding effective demand, the plan stressed efforts to bolster traditional electronic consumer goods and cultivate new growth drivers by promoting technology and product innovation.

China will optimize the export structure of electronic apparatus, lift the proportion of high-value-added products in total exports, and encourage enterprises to participate in international exhibitions to stabilize the foreign trade of the sector.

China is a major producer of electronic equipment. The country’s fixed-asset investment in the electronic information manufacturing industry grew 9.4 percent year on year during the first half of the year.