China's economic recovery globally significant
'China link' in the global industrial and supply chains
Chinese manufacturing is increasingly interacting with the world, demonstrating its own strength and resilience, by making great improvements like building overseas factories apart from just establishing overseas subsidiaries, and exporting technology in addition to merely exporting products.
With the most complete industrial system in the world, China is an important link of the global industrial and supply chain. China ranks first in the world in the output of more than 220 industrial products.
In the past year, China's value-added industrial output reached 40.2 trillion yuan ($5.87 trillion), the added value of manufacturing industry was 33.5 trillion yuan and the total value of its import and export of goods exceeded 40 trillion yuan for the first time, ranking first in the world in both cases.
These demonstrated the importance of the "China link" in the global industrial and supply chains.
