The top 7 Chinese industry area
Industry is the largest constituent of China’s gross domestic product. Major Chinese industries include mining, manufacturing, construction, and power among others. China’s GDP is now second in the world thanks to its raid growing industries. One reason that China continues to grow so rapidly is its low cost of labor and manufacturing something that many developed and developing countries lack.
Steel industry
Today china is the largest producer of steel in the world. It is estimated that china produces 45% of the world’s steel. China has rapidly been increasing its steel production in order to feed both the local and international demand. This has seen china dominate the industry producing approximately 627 million metric tons of steel.
Automotive industry
China is the leading Automaker in the world, producing over 18 million vehicles per year. On the other hand, it is worth to note that it is also the number one auto consumer with an estimated two thirds of its production consumed in the local market.
Telecommunications and Mobile technology
China is believed to be the largest consumer of mobile technology, both in the region and in the world. Its local consumer base t estimated to have grown from 7% in 2000 to nearly 90% in 2013. This has seen its industry grow in terms of innovation and production so as to feed both the international and local demand of mobile technology.
Textile
There is no doubt that china economy has always relied on many industries including the textile industry. It is estimated that Chinese textile industries witnessed a growth of 13.3% in the first six months of 2013 with total sales exceeding $3.3 million. This saw its export market grow by 12% in the first half of 2013.
Energy industry
Since 1990, china’s energy industry has changed dramatically, which has seen the country emerge as the largest producer of energy in the world. Despite producing large amount of energy, most analysts believe it is unfortunate that the production is overwhelmingly dominated by coal. Never the lees the energy and coal fuel is the main ingredients in powering the ever growing economy.
The inflatable manufacturing industry
China’s Inflatable industry is one area of the economy that has a promising future as it stands with its head held high. This industry has seen players such as Tobbox spend endless hours being creative, and exploring both the local and international market. Chinas companies have majored in the production of both tents and inflatable toys, which are being received well in the market. According to china customs statistics this segment of the economy has witnessed an export increase of 61.08%.
Aerospace
Over the years, the Chinese government has realized that it has commercial aviation manufacturing capabilities. This has seen the government encourage both local and international participation in the development of China’s aerospace industry. Since it was identified as a high-priority sector in China’s growth plans, the industry has received overwhelming government support with the intention of developing a viable aviation industry.