China unveils 15th Five-Year Plan for light industry and textiles, targeting over 30 trillion yuan in revenue by 2030
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China's Ministry of Industry and Information Technology, along with two other departments, has released the '15th Five-Year Plan' for the development of the light industry and textile sector. The plan sets a target for 2030, aiming to significantly improve the sector's level of intelligent, green, and integrated development. It expects the average annual growth rate of industrial value-added for enterprises above a designated size to remain within a reasonable range, with steady growth in labor productivity and a solid guarantee of people's livelihoods. The plan also outlines 11 key expected indicators for 2030, including total revenue for enterprises above a designated size exceeding 30 trillion yuan, the establishment of approximately 550 industrial clusters, a digital production equipment penetration rate of over 63%, more than 30% of enterprises offering personalized customization, over 2,000 green factories, and around 600 Chinese consumer brands.
Source report
The Ministry of Industry and Information Technology, along with two other government departments, has recently issued the "15th Five-Year Plan for the Development of the Light and Textile Industries."
Key Objectives by 2030
The plan sets the goal that by 2030, the light and textile industries will achieve significant improvements in:
- Intelligent development
- Green transformation
- Integrated growth
Specific targets include:
- The average annual growth rate of industrial value-added for enterprises above a designated scale will remain within a reasonable range
- Labor productivity will grow steadily
- Livelihood security will be solid and robust
- The industries' position in the global industrial chain and value chain will be notably elevated
11 Major Expected Indicators
The plan also outlines 11 key performance indicators to be achieved by 2030:
- Revenue of enterprises above a designated scale: exceeding 30 trillion yuan
- Industrial clusters: approximately 550
- Digital production equipment penetration rate in the industry: 63% or above
- Enterprises offering personalized customization: exceeding 30%
- Green factories: over 2,000
- Chinese consumer brand names: approximately 600
Source
新浪财经Eastern
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China Sets 30 Trillion Yuan Revenue Target for Light and Textile Industries by 2030