Chinese manufacturing sees growing innovation strength

China's manufacturing sector has seen growing innovation capabilities, according to an industrial index released by the China Center for Information Industry Development.

A report by the center, which is affiliated to China's Ministry of Industry and Information Technology, reveals that the innovation index for the country's leading manufacturing enterprises had consistently increased, with an annualized average growth rate of 11.6 percent during the 2013-2023 period.

The manufacturing innovation index comprises five first-tier indicators covering innovation resources, innovation output, innovation collaboration, innovation performance and innovation environment, as well as another 17 sub-indicators that track data such as the proportion of large firms that have set up specialized R&D centers and their number of invention patents.

The report said the impact from Chinese firms' innovation has been steadily growing, and collaboration in innovation has also experienced rapid growth. It advised further efforts to promote cooperation among industries, colleges and research institutions, and to optimize the environment for innovation.

China's industrial production experienced accelerated growth in 2024, driven by the country's continued efforts to optimize and upgrade its industrial structure. Its manufacturing industry has also maintained the top position globally in terms of scale for 15 consecutive years.

There has been a more upbeat sentiment recently following the release of data early this week, which showed the nation's manufacturing sector continues to expand in March as business production accelerated amid sustained economic recovery. The purchasing managers' index (PMI) for China's manufacturing sector came in at 50.5 in March, up 0.3 percentage points from February. A PMI reading above 50 reflects expansion. ■