By Hasan Muhammad

 

 

The manufacturing industry in China has demonstrated strong and steady progress in 2024. The latest statistics show that the national manufacturing quality competitiveness index has risen to 85.6, up from 85.21 recorded in 2023. This growth reflects the country's continued efforts to enhance the quality and competitiveness of its manufacturing sector.

 

Meanwhile, China's manufacturing sector continued to expand in November, supported by various government measures. According to the National Bureau of Statistics (NBS), the manufacturing purchasing managers' index (PMI) increased to 50.3, up from 50.1 the previous month. Although this is a modest increase, it is significant because a PMI above 50 signals expansion. This suggests that the sector has the potential to grow, despite weak global economic conditions, and indicates that Beijing is implementing the right policies to foster industrial growth.

 

In 2024, the manufacturing sector faced numerous challenges from global issues, including supply chain disruptions and geopolitical risks. However, China's manufacturing industry has proven to be highly flexible and adaptable to these changes. The country's strong logistics systems and flexible supply chains have been key to maintaining production and keeping exports steady.

 

The manufacturing sector grew moderately but steadily in November. In contrast, the non-manufacturing PMI fell to 50, while construction output shrank to 49.7, largely due to seasonal factors such as poor weather conditions affecting construction activities. The economic performance in November showed different patterns across industries. Sectors such as internet software, IT services, capital markets, and insurance continued to grow strongly, demonstrating the sector's flexibility and ability to recover. However, the retail, accommodation, and catering sectors reported declines, highlighting the unevenness of the recovery process.

 

Despite these challenges, there are reasons for optimism. The business confidence index for the service sector remained relatively strong at 57.3. Certain sectors, including air transport and postal services, recorded high confidence levels, with indices above 65. These figures suggest that key industries are optimistic about future business opportunities and are confident in the long-term stability of the economy.

 

The construction sector in China showed a cautiously positive outlook in November, with the business expectation index standing at 55.6. This indicates that firms remain confident despite seasonal and other challenges. The increase reflects the sector's flexibility and ability to adjust to a dynamic market environment. It appears that firms are preparing for expected demand and are poised to make further contributions to the country's economic strength in the future.

 

The manufacturing data for November and for the entire year of 2024 highlights China's remarkable achievements despite global challenges. The sector's resilience, innovation, and commitment to sustainability have reinforced its position as a global leader.

 

China's effective management of current global issues has played a crucial role in supporting domestic demand and advancing manufacturing. The adoption of technologies such as artificial intelligence (AI), big data, and the Internet of Things (IoT) has revolutionized production techniques, increasing productivity, reducing costs, and improving product quality.

 

In addition, China's investments in renewable energy, energy-efficient technologies, and the adoption of circular economy principles have reduced the environmental impact of manufacturing. These green manufacturing initiatives, coupled with a strong focus on innovation, have not only improved China's global standing but also provided a platform for international cooperation on clean technologies. By balancing technological advancement with environmental protection, China is strengthening its role as the world's manufacturing powerhouse while pushing the boundaries of industrial progress and eco-friendly development.