The growth space and competition pattern of manufacturing industry

Under the challenging external environment, the scale of China’s manufacturing industry is on the rise, and the turning point of high-speed to medium-high growth has arrived. In recent years, China’s 4PP220.0571-45 manufacturing industry has achieved remarkable results, enhanced technological innovation ability, optimized industrial structure, and improved internationalization level. In 2023, the operating income of China’s manufacturing industry reached 115.3 trillion yuan, an increase of 1.3% year-on-year, and the total profit reached 5.7 trillion yuan, although the total profit fell by 2% year-on-year, the manufacturing industry as a whole still maintained a stable growth trend, laying a solid foundation for future development. What benefits and challenges will the manufacturing industry face in 2024? The following are revealed:

Industry change

The stock era has arrived, and the manufacturing industry has broken the new machine

4PP220.0571-45

According to the data of Tandori Big Data Research Institute, during the decade of 2014-2023, the number of new registrations of Chinese manufacturing enterprises showed a steady upward trend, the number of new registrations in 2014 was 952,000, and the number of new registrations in 2023 has reached 1.662 million, which is nearly twice that of 2014, and the total number of enterprises is very 4PP220.0571-45 large. From the point of view of cancellation, the number of enterprise cancellations has increased rapidly in the past ten years. In 2023, the global economy is turbulent, manufacturing enterprises generally face the dilemma of rising costs and declining demand, homogenization competition is fierce, industry reshuffle is intensified, which has a certain impact on the business of manufacturing enterprises, and the number of write-offs reaches a peak in 2023.

At the same time, the backbone leading enterprises continue to do better and stronger. According to the data of Tandori Big Data Research Institute, the number of enterprises with registered capital of more than 10 million has fluctuated in the past decade, reaching a peak in 2020, and the number of enterprises has declined from 2022 to 2023 due to factors such as the epidemic and manufacturing migration.

As a “strong manufacturing province”, Guangdong is the vanguard of China’s industrial development. In the 10 years from 2014 to 2023, the total number of manufacturing enterprises in Guangdong has grown rapidly, reaching 232,000 in 2023. From the perspective of cancellation, the number of cancellations reached a peak in 2023, and the manufacturing industry in Guangdong Province entered the industry transformation period due to the impact of industrial upgrading and rising costs.