BEIJING, March 1 (Xinhua) -- China's economy is growing at a rate of about 5 percent despite the many challenges it faces, many industries continue to thrive, Business Insider said on Feb. 29.
According to reports, Lin Huatang, chief investment director of AllianceBernstein Asset Management China, said in a previous interview that despite some challenges, the overall economic performance of China's industry is positive. "Whether it's in some consumer segments, or in industrial manufacturing, some companies are actually doing pretty well. ”
According to the report, China is now aiming for higher value-added manufacturing and focusing on sustainable industries. China is vigorously developing the "new three things" of Chinese manufacturing for electric passenger vehicles, lithium-ion batteries and solar batteries to boost economic development.
According to the report, these industries in China are "already doing very well". China is already the world's largest market and producer of electric vehicles. Chinese-made electric vehicles are currently being exported to Europe and the rest of the world.
In terms of solar panels, China's energy transition plan has stimulated a lot of investment, the report said. China is expected to dominate 80% of the world's solar manufacturing capacity by 2026, according to Wood Mackenzie.
The report quoted Lin Huatang as saying that China has also performed well in sub-sectors such as the export of buses and forklifts in the heavy manufacturing industry.