China's digital economy is booming like never before! According to the latest national economic census, core digital sectors generated a whopping 48.45 trillion yuan ($6.7 trillion) in revenue last year—equivalent to roughly 1.5 times the entire GDP of Germany.
Tech Titans & Job Creators
With 2.92 million companies driving innovation, the sector now employs 36.16 million people—that's more than the population of Malaysia! Digital tech applications led the jobs race, hiring 14.61 million workers, while digital manufacturing firms dominated revenue charts with 20.48 trillion yuan.
What's Powering the Boom?
The government defines “core digital industries” as businesses providing cutting-edge tech, AI solutions, data infrastructure, and services enabling digital transformation across all sectors. Think smart factories, AI-driven logistics, and cloud computing!
Sector Breakdown
Digital Manufacturing: 262K firms | 13.37M jobs
Tech Applications: 1.43M firms | 14.61M jobs
Data-Driven Industries: 950K firms | 6.66M jobs
Digital Services: 274K firms | 1.52M jobs
As the National Bureau of Statistics highlighted, this growth signals China's accelerating shift toward high-tech industries—and global investors are watching closely.
Reference(s):
China's core digital sectors logged $6.7 trillion in revenue in 2023
cgtn.com