China's light industry enterprises above the designated size achieved a revenue of 23 trillion yuan (about 3.17 trillion U.S. dollars) in 2024, up 2.0 percent year on year, with a profit of 1.5 trillion yuan, marking an 8.3 percent year-on-year increase, according to the latest data from the China National Light Industry Council.
China's light industry output maintained stable growth in 2024, with the added value of enterprises above the designated size increasing by 5.1 percent year on year.
Among the 91 major light industry products tracked by the National Bureau of Statistics, 55 recorded production growth. In particular, driven by trade-in policy, home appliances like washing machines and refrigerators saw significant output increases.
The profitability of the sector continued to improve, with the operating profit margin reaching 6.54 percent, up 0.38 percentage points from the previous year. Industries such as home appliances, batteries, and sewing machinery experienced double-digit profit growth, contributing to the overall positive trend.
Government policies aimed at boosting domestic demand and consumption led to a steady expansion of the light industry market. In 2024, retail sales of 11 categories of light industrial goods reached nearly 8 trillion yuan, marking a 5.0 percent increase. Notably, household appliances and audiovisual equipment maintained rapid growth for four consecutive months.
China's light industry exports increased steadily in 2024, with the sector's total export value growing by 3.6 percent year on year, maintaining a sustained upward trend for three consecutive months. Of the 21 major sub-industries in light manufacturing, 13 recorded export growth, demonstrating the sector's resilience in export.
China's light industry records1.5 trillion yuan profit in 2024
Visiting Chinese Foreign Minister Wang Yi said Saturday China is willing to work with Lesotho to strengthen exchanges on governance experience, enhance coordination in multilateral affairs, and advance the China-Lesotho strategic partnership.
Wang, also a member of the Political Bureau of the Communist Party of China Central Committee, made the remarks when meeting with Lesotho Prime Minister Sam Matekane in the capital of Lesotho.
During the meeting, Wang congratulated Lesotho on the 60th anniversary of its independence this year, and spoke highly of Lesotho government's efforts to prioritize economic development and steer the African country onto a path of sustainable growth. Since the Beijing Summit of the Forum on China-Africa Cooperation (FOCAC) in 2024, the two sides have advanced cooperation under the 10 partnership action plans unveiled at the summit, successfully implementing a number of key projects to effectively promote Lesotho's development and revitalization, Wang said.
China stands ready to work with Lesotho to strengthen exchanges on governance experience, enhance coordination in multilateral affairs, and push for greater development of the China-Lesotho strategic partnership, he added.
Calling on the two sides to firmly support each other, Wang said that China will accelerate the implementation of its zero-tariff policy for African countries, including Lesotho, expand bilateral trade, investment and industrial cooperation, facilitate broader access of Lesotho's specialty products to the Chinese market, and continue to support Lesotho's national development.
China will continue to stand firmly with African countries, uphold justice for the Global South, including Lesotho, oppose unilateralism and acts of bullying, and work together to build a community with a shared future for humanity, Wang said.
On his part, Matekane said during the meeting that Lesotho cherishes its friendship with China and the strategic partnership between the two countries, and expressed gratitude for China's valuable support for the development of African countries, including Lesotho.
Lesotho firmly adheres to the one-China principle and resolutely supports China in safeguarding its core interests, he said, noting that his country stands ready to strengthen strategic mutual trust with China, expand people-to-people exchanges, jointly implement the outcomes of the FOCAC Beijing Summit, and deepen cooperation in areas such as infrastructure, manufacturing and energy.
Matekane stressed that China's zero-tariff policy for African products will inject new impetus into Lesotho's development. He also expressed Lesotho's willingness to strengthen solidarity and cooperation with China on multilateral platforms such as BRICS to jointly address global challenges.
On the same day, Wang also held talks with Lejone Mpotjoana, minister of foreign affairs and international relations of Lesotho.
China, Lesotho to strengthen exchanges, advance cooperation
China, Lesotho to strengthen exchanges, advance cooperation
