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China’s Electronics Sector Defies Global Trends with Strong Growth in 2024

Published: 6.4.2024

On May 29, the Ministry of Industry and Information Technology released data highlighting the robust performance of China's electronic information manufacturing industry from January to April 2024. The industry showed significant growth across various metrics, indicating a positive trajectory despite global challenges. 

Steady Production Growth 

From January to April, the added value of electronic information manufacturing industries above designated size increased by 13.6% year-on-year. This growth outpaced both the general industrial sector and the high-tech manufacturing industry by 7.3 and 5.2 percentage points, respectively. In April alone, the industry's added value surged by 15.6% year-on-year, underscoring a strong upward trend. 

Production of key electronic products witnessed substantial increases: 

      • 496 million units produced, marking a 12.6% year-on-year increase. Within this category, smartphones accounted for 367 million units, a rise of 14.1%. 

      • Microcomputer Equipment production reached 100 million units, reflecting a 3.4% increase year-on-year. 

      • Output  for integrated circuits soared to 135.4 billion units, a significant 37.2% increase year-on-year. 

Export Growth 

The export delivery value of electronic information manufacturing industries above designated size grew by 0.2% year-on-year from January to April, a notable improvement over the first quarter. April saw an 8.4% year-on-year increase in export delivery value. Key export statistics include: 

      • Laptops: 44.01 million units exported, a 9.6% increase year-on-year. 

      • Mobile Phones: 241 million units exported, up 4.6% year-on-year. 

      • Integrated Circuits: 88.7 billion units exported, showing an 8.5% year-on-year rise. 

Industry Resilience Amid Global Challenges 

Despite the global trend of "de-globalization" in the integrated circuits sector, which poses challenges to global layout and technical exchanges, China's electronic information manufacturing industry has demonstrated remarkable resilience. The continuous expansion of market demand for integrated circuits highlights China's increasing competitiveness in the global semiconductor industry chain. 

The data indicates that China's electronic information manufacturing industry is on a strong growth path, driven by steady production increases, robust export recovery, and improved industry benefits. This positive momentum positions China as a formidable player in the global electronic information manufacturing landscape, even amidst shifting global dynamics. 

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