China's consumer electronics sector has shown remarkable growth in the first ten months of this year, with businesses and industry insiders highlighting its strong contributions to industrial stability and resilience.
In the city of Shenzhen, a tech hub located in south China's Guangdong Province, a bustling scene unfolds early in the morning at an industrial park of the country's leading TV manufacturer Skyworth, a testament to the burgeoning consumer electronics sector. Trucks line up as workers busy loading TV sets for both domestic and international shipments.
According to a person-in-charge, the company ships nearly 30,000 units of televisions daily to over 110 countries and regions worldwide.
"Our monthly shipment volume has increased by 40 percent year on year, and current orders are scheduled until February next year," said Ding Yanling, a departmental head at Skyworth's manufacturing headquarters.
The influx of orders has spurred growth for upstream and downstream businesses, including raw material suppliers, manufacturing facilities, and logistics providers alike.
This year, Skyworth alone has propelled the growth of nearly 400 enterprises, contributing to an industrial chain output value of approximately 15 billion yuan (roughly 2.06 billion U.S. dollars).
Data released by the Ministry of Industry and Information Technology (MIIT) at the end of November showed that the added value of China's electronic information manufacturing sector above designated size in the first 10 months had surged by 12.6 percent year on year.
The growth outpaced that of the broader industrial sector and high-tech manufacturing by 6.8 and 3.5 percentage points, respectively, year on year.
"The consumer electronics sector has a strong driving effect, benefiting upstream and downstream industries like raw materials, chemicals, equipment and instrumentation. The 'trade-in' initiatives have further boosted growth in the sector, underpinning the stability and development of the consumer economy's supply chains," said Su Tingdong, deputy director of the Electronics and Information Research Institute at the China Center for Information Industry Development.
China is stepping up measures to encourage consumer goods trade-ins, in an effort to further unleash market demand and galvanize economic growth.
Export of consumer electronics products also registered an outstanding performance in the Jan-Oct period, with export of mobile phones and TV sets rising up by 3.3 percent and 10.0 percent year on year, respectively.
China's consumer electronics sector grows quickly in first 10 months
