China's manufacturing to add 8 trillion yuan during 14th Five-Year Plan period

China's manufacturing sector is expected to add 8 trillion yuan ($1.1 trillion) in value during the 14th Five-Year Plan period (2021–25), the Ministry of Industry and Information Technology said on Tuesday.

From 2020 to 2024, the country's total industrial added value rose from 31.3 trillion yuan to 40.5 trillion yuan, while manufacturing added value increased from 26.6 trillion yuan to 33.6 trillion yuan, according to Minister of Industry and Information Technology Li Lecheng.

Over the 2021–25 period, the projected 8 trillion yuan increase in manufacturing value is expected to contribute more than 30 percent to global manufacturing growth, Li said.

China's share of global manufacturing added value now stands close to 30 percent. The country has also maintained its position as the world's largest manufacturing economy for 15 consecutive years, according to the ministry.