Korean Media: China Ranks First in Seven of the World's Top 10 Advanced Industries!
On July 21, South Korean media outlet NewsPim published an article stating that, according to statistics, China ranks first globally in seven out of ten major advanced industries.
A report released by the U.S.-based think tank Information Technology and Innovation Foundation (ITIF) analyzed the production competitiveness of countries across key advanced industries. The findings revealed that China holds a dominant position in industrial competitiveness. ITIF urged the United States and its allies to strengthen cooperation and enhance their production capacity.
The report was compiled based on data from the OECD. It analyzed value-added production shares among 39 countries and regions from 1995 to 2022, covering ten sectors including automobiles, electronics, machinery, and pharmaceuticals.
The analysis shows that in 2022, China accounted for 25% of the global market share in its top ten industrial sectors. China ranked first in seven industries: general metals, electronics, machinery, chemicals, metal products, automobiles, and computers—its market share increased by 6 percentage points compared to 2012.
The United States came second with 22%, Germany third with 6%, and Japan fourth with 3%.
The industry with the highest market share for China is general metals—including steel—accounting for 42% of global output. Additionally, China holds over 30% market share in electrical machinery (including battery and wire production) and in machinery (including machine tools).
The United States maintains first place in three industries, including transportation equipment. Its market share in transportation equipment stands at 39%, 36% in information technology, and 29% in pharmaceuticals.
However, the report notes that Chinese enterprises are rapidly catching up in these fields. ITIF predicts, "China is swiftly enhancing its competitiveness in high-value-added industries; if the United States and its allies do not adopt a coordinated strategy to boost productivity, the gap with China will continue to widen."
Original source: toutiao.com/article/1871286956135436/
Disclaimer: This article represents the personal views of the author.