China’s consumer goods industry improves significantly over decade: official

Workers assemble bicycles for children at a factory in Pingxiang county of Xingtai, Hebei province. [Photo provided to chinadaily.com.cn] BEIJING — China”s consumer goods industry has improved significantly in size and overall strength over the past decade, with steady growth in revenue and global influence, a Ministry of Industry and […]

Workers assemble bicycles for children at a factory in Pingxiang county of Xingtai, Hebei province. [Photo provided to chinadaily.com.cn]

BEIJING — China”s consumer goods industry has improved significantly in size and overall strength over the past decade, with steady growth in revenue and global influence, a Ministry of Industry and Information Technology official said on Wednesday.

The sector’s combined operating revenues and profits respectively increased 35 percent and 64.5 percent over the past 10 years, He Yaqiong, head of the ministry’s department of consumer goods industry, said at a press conference.

The added value of the industry accounts for 27.9 percent of all industrial sectors, and the country’s exports of light industry and textile products have surpassed 30 percent of the world’s total, He said.

China has built a consumer goods industrial system with wide coverage and a relatively complete structure, which has effectively guaranteed the supply of various products necessary to daily life.

Calling the industry one of China’s long-standing advantages, He said it plays an irreplaceable role in driving the economy, improving the people’s well-being, creating jobs, and expanding exports.

Looking forward, He said efforts will be made to promote the sector’s digital and green transition to better satisfy consumers’ varied demand and reinforce its competitive edge.

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