China's new growth drivers continued to expand steadily in 2024, contributing a greater share to the country's gross domestic product (GDP), official data showed Thursday.
After accounting, the economic added value of China's so-called "Three New" growth drivers in 2024 came in at 24.2 trillion yuan (about 3.3 trillion U.S. dollars), an increase of 6.7 percent over the previous year (by using current prices), 2.5 percentage points higher than the growth rate of GDP in the same period at current prices, the National Bureau of Statistics said.
The "Three New" Economy is a collection of economic activities with new industries, new business formats, and new business models as the core content. The added value of the "Three New" Economy measures the added value created by all the permanent units of a country (or region) engaged in the "three new" economic production activities in a certain period of time.
Their share of GDP rose to 18.01 percent in 2024, marking a 0.43 percentage points increase from the previous year.
Meanwhile, recent data showed that the country's high-tech sectors sustained rapid expansion in the first half of 2025, with value-added industrial output in high-tech manufacturing rising by 9.5 percent. This growth rate was 3.1 percentage points higher than that of the overall industrial output during the same period.
By industry, among the "Three New" economy, the added value of primary industry stood at 948.5 billion yuan, up 6.7 percent over the previous year, accounting for 3.9 percent. The added value of the secondary industry totaled 10.04 trillion yuan, up 5.5 percent over the previous year, accounting for 41.4 percent. The added value of the tertiary industry reached 13.2 trillion yuan, an increase of 7.7 percent over the previous year, accounting for 54.7 percent.
China's new growth drivers see rapid expansion in 2024
China's new growth drivers see rapid expansion in 2024
