China's Digital Industry Development Report 2024: Over 90% of Key Indicators Show Year-on-Year Growth, Reaching a Scale of RMB 35 Trillion

Cloud Tech 2025-03-18 11:30:24 Source: Network

China's Digital Industry Development Report 2024: Over 90% of Key Indicators Show Year-on-Year Growth, Reaching a Scale of RMB 35 TrillionChina's digital industry thrived in 2024, demonstrating strong growth momentum. According to the latest data released by "Ministry of Industry and Information Technology Micro Report," over 90% of the key monitored indicators of the digital industry experienced year-on-year growth, showcasing a positive overall development trend

China's digital industry thrived in 2024, demonstrating strong growth momentum. According to the latest data released by "Ministry of Industry and Information Technology Micro Report," over 90% of the key monitored indicators of the digital industry experienced year-on-year growth, showcasing a positive overall development trend. This significant growth has injected strong impetus into China's digital economic transformation and made significant contributions to global digital economic development.

Data shows that the digital industry achieved a business revenue of RMB 35 trillion in 2024, representing a year-on-year increase of 5.5%. This massive figure reflects the enormous potential and market vitality of China's digital industry. A breakdown reveals that manufacturing and service industries contributed 59.6% and 40.4% to digital industry revenue, respectively, with growth rates of 3.8% and 8.0%. The rapid growth of the service sector further highlights the role of the digital economy in driving the transformation and upgrading of traditional industries.

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Notably, the profitability of the digital industry also continued to strengthen. In 2024, the digital industry achieved a total profit of RMB 2.7 trillion, a year-on-year increase of 3.5%. This indicates that, with the continuous development and expansion of the digital industry, its profit model is becoming increasingly mature, and its economic benefits have significantly improved. Simultaneously, the digital industry's employment absorption capacity remained stable. In 2024, the number of people directly employed in the digital industry reached 20.6 million, remaining relatively unchanged from the previous year, reflecting to some extent the optimization of industrial structure and efficiency improvements.

From a regional perspective, in 2024, the eastern region's digital industry revenue increased by 6.5% year-on-year, accounting for 73.6% of the national total and remaining the primary engine of digital industry development. However, the growth rate of the digital industry revenue in central and western regions and the northeast region was relatively lower, at 4.2%, 0.8%, and 2.5% respectively. This indicates that regional development imbalances remain a concern, and further policy support for central and western regions and the northeast is needed to promote balanced development of the digital industry.

At the provincial level, Guangdong, Jiangsu, Beijing, Zhejiang, Shanghai, Shandong, Sichuan, Fujian, Anhui, and Hubei ranked among the top 10 provinces in terms of digital industry revenue, accounting for 81.5% of the national total and contributing 99.5% to the national digital industry revenue growth. These provinces possess strong industrial foundations, abundant technological resources, and well-developed supporting facilities in digital industry development and will remain important forces in digital economic development.

To promote the sustainable and healthy development of the digital industry, the state has actively established a number of national-level advanced manufacturing clusters, focusing on areas such as information and communication, artificial intelligence, new display technologies, and integrated circuits. The construction of these clusters will effectively integrate resources, promote the coordinated development of upstream and downstream industries, and further enhance the competitiveness of the digital industry.

In 2024, China's electronic information manufacturing industry also saw a comprehensive recovery and positive development. Production growth accelerated, with the added value of large-scale computer, communication, and other electronic equipment manufacturing industries increasing by 11.8%, an improvement of 8.4 percentage points year-on-year. This shows that the recovery of the electronic information manufacturing industry has played an important supporting role in the overall growth of the digital industry. Meanwhile, the import and export of electronic information manufacturing continued to rise, reaching US$1.8 trillion, a year-on-year increase of 6.4%, further strengthening China's competitive position in the global electronic information industry.

The full recovery of the consumer electronics market also injected vitality into the growth of the electronic information manufacturing industry. In 2024, the output of mobile phones, microcomputers, and color TVs in China increased by 7.8%, 2.7%, and 4.6% year-on-year, respectively. This indicates that, with the improvement of residents' consumption capacity and the upgrading of consumption structure, the market demand for consumer electronics products continues to grow.

Driven by new businesses, the software and telecommunications industries also achieved high-speed growth. The rapid development of new businesses such as artificial intelligence and cloud platforms has driven the software industry to achieve a business revenue of RMB 13.7 trillion, a year-on-year increase of 10%. The telecommunications industry achieved a business revenue of RMB 1.74 trillion, a year-on-year increase of 3.2%, and the total volume of telecommunications services increased by 10% year-on-year, demonstrating strong development potential. The internet and related service industries also maintained stable operation, providing a solid foundation for the sustained development of the digital economy.

In conclusion, China's digital industry development achieved remarkable results in 2024, with over 90% of key indicators showing year-on-year growth and business revenue exceeding RMB 35 trillion, with total profits also increasing. This indicates that China's digital economic development is in a stage of rapid growth, with enormous potential for future development. However, regional development imbalances remain a concern, and further policy support and guidance are needed to promote balanced development of the digital industry and provide stronger support for China's high-quality economic development. Simultaneously, continuous attention to and active response to changes in the international environment, and maintaining the security and stability of industrial chains and supply chains, are crucial for the long-term healthy development of China's digital industry. In the future, continuing to deepen reform and opening up, strengthening innovation-driven development, and enhancing industrial competitiveness will be key to ensuring the continued prosperity of China's digital industry. Continued efforts in technological innovation, talent cultivation, and international cooperation will be essential to better seizing opportunities, addressing challenges, and achieving sustainable development of the digital economy.

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