In the first half of the year, the pace of transformation and upgrading among manufacturing enterprises has accelerated.

The State Administration for Market Regulation has released data indicating that the transformation and upgrading of manufacturing enterprises accelerated in the first half of the year. As the foundation of the real economy, manufacturing continues to develop steadily and grow, with related enterprises consistently moving up the value chain. Firstly, the equipment manufacturing industry is advancing towards high-end production. In the first half of the year, 28,000 new enterprises were established in the high-end equipment manufacturing sector, marking a year-on-year increase of 2.5%. Among them, the smart equipment manufacturing industry grew by 6.4% and the urban rail equipment manufacturing industry increased by 4.4%. Secondly, high-tech manufacturing is demonstrating strong growth. As of the end of June, the total number of high-tech manufacturing enterprises reached 330,000, with 15,000 new establishments in the first half of the year. Notably, the aerospace and launch vehicle manufacturing industry saw a year-on-year increase of 185.7% in new enterprises, the optical fiber and cable manufacturing industry grew by 129.4%, and the integrated circuit manufacturing industry increased by 24.2%. Thirdly, companies in sectors with overcapacity are being systematically cleared. In the first half of the year, the number of enterprise cancellations related to new energy vehicles, photovoltaic, and lithium battery industries reached 7,632, 5,089, and 155 respectively, reflecting year-on-year growth of 4.6%, 8.3%, and 12.3%.