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
