China’s light industry sector achieved steady growth in 2022, according to data from the National Development and Reform Commission. Major enterprises in the sector reported a combined revenue of 24 trillion yuan ($3.46 trillion) last year, up 5.4% from the previous year. These companies also saw total profits of 1.53 trillion yuan, a rise of 8.2% from the year before.
The sector’s industrial added value also increased by 2.4% from 2021, with battery production growing by more than 10% year-on-year and the output of solar cells soaring nearly 50%. Additionally, the export of light industry products rose by 4.2% year-on-year to $953.54 billion in 2022, accounting for 26.5% of the country’s total exports.
These numbers suggest that China’s light industry sector has remained resilient amid a challenging global economic environment. The growth in battery production and solar cell output also indicates that China is continuing to make significant strides in clean energy technology. As one of the largest exporters of light industry products in the world, China’s continued growth in this sector is likely to have a significant impact on global markets.