China’s high-tech sector sees rapid growth in 2020
China’s high-tech sector has grown rapidly in 2020, according to the PRC General State Tax Administration. Sales revenue increased by 14.7%. compared to 2019.
Such growth rates were by 8.7 percentage points. higher than the national average, said the representative of the above department Cai Zili.
In particular, the growth rate of the high-tech services industry exceeded 20 percent. on an annualized basis for nine consecutive months since April last year.
“High-tech services such as the Internet, big data and artificial intelligence have become more deeply integrated into the manufacturing industry,” Cai Zili said.
It is estimated that by the end of 2020, the number of high-tech enterprises in China will reach 275,000, more than three times the number in 2015.