China in a Decade: Continued industrial growth, transformation and upgrading

II. Optimized industrial structure with transformed development model

1. Optimization and upgrading of production structure, and rapid growth of high-end manufacturing

- From 2013 to 2021, added value of the equipment manufacturing and high-tech manufacturing grew at an average annual rate of 9.2% and 11.6% respectively

2. Improved profit structure for enterprises of high-end manufacturing

- In 2021, profits of equipment manufacturing industry accounted for 32.1% of those achieved by all industrial enterprises above designated sizes

- In 2021, total profits achieved by the equipment manufacturing industry above designated size was 2.8 trillion yuan, up 46.1% from 2012, with an average annual growth rate of 4.3%

3. Rapid growth of emerging products, and great prospect of innovation-driven development

- In 2021, total output of industrial robots reached 366,000 units, an increase of 67.9% over the previous year

- In 2021, output of new energy vehicles reached 3.68 million units, up 145.6% over the previous year; output of service robots reached 9.21 million units, up 48.9%; and 66.87 million smart watches were produced, up 37.0% year on year

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Editor: JYZ