China’s Digital Industry Revenue Growth

China's digital industry continues to grow with innovations in AI and consumer electronics leading the way.

According to the Ministry of Industry and Information Technology of China, on March 17, it was reported that in 2024, China’s digital industry progressed steadily, achieving a business revenue of 35 trillion yuan, which is a 5.5% increase compared to 2023.

Additionally, the total profit reached 2.7 trillion yuan, which is 3.5% higher than the previous year. Last year, significant improvements were observed in China’s electronic information manufacturing industry. The added value in the computer, communication, and other electronic equipment manufacturing sectors increased by 11.8%, which is 8.4 percentage points higher than 2023.

The consumer electronics market also showed improvement, leading to an increase in production of mobile phones, microcomputers, and color TVs by 7.8%, 2.7%, and 4.6%, respectively. The digital progress was not limited to hardware. Due to emerging sectors such as artificial intelligence and cloud platforms, the software industry achieved a business revenue of 1.37 trillion yuan, marking a 10% year-on-year growth.