Business / Industries

China high-tech manufacturing firms see fast growth

(Xinhua) Updated: 2014-12-16 14:45

BEIJING -- China saw high-technology manufacturing companies surge from 2008 to 2013, a signal of progress in economic structure adjustment, official data showed on Tuesday.

There were 26,894 large high-tech manufacturing companies by the end of last year, accounting for 7.8 percent of all large manufacturing companies, up 1.3 percentage points from 2008.

They realized a profit of 723.37 billion yuan ($118.23 billion) in 2013, up 165.5 percent from 2008, according to results of the third national economic census published by the National Bureau of Statistics.

The profit growth was 11.5 percentage points higher than the average manufacturing industry rate.

A total of 12.94 million people were employed in the high-tech manufacturing sector at the end of 2013, up 36.9 percent from 2008, the census showed.

They account for 15.1 percent of all employees in the manufacturing sector, 2.9 percentage points higher than 2008.

Expenditure on research and development by high-tech manufacturing firms stood at 203.43 billion yuan in 2013, rising 178.2 percent from 2008. The growth rate was 8.7 percentage points higher than the industry average.

Large high-tech manufacturing companies refer to those with annual revenue of 20 million yuan or more from their main business operations.

China's manufacturing industry is the largest in the world, and the country has been working to upgrade the traditional industries, develop new and high-tech industries and raise product competitiveness.

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