Biggest Industries by Revenue in China in 2023

1. Copper Ore Mining in China

Revenue for 2023: $13,897,9B

Industry revenue for the Copper Ore Mining industry in China is expected to increase at an annualized 10.4% over the five years through 2022. The industry has performed largely in line with downstream demand for copper products. As copper prices rose, industry revenue increased by 0.9% in 2017, to total $13.6 trillion. Industry revenue decreased by 0.3% in 2018, due to weak downstream demand. In 2020, due to the impact of the COVID-19 pandemic, copper prices skyrocketed along with inflation. As a result, industry revenue growth rate rose at a rate of 23.1%. China is currently heavily investing in the... Learn More

2. Building Construction in China

Revenue for 2023: $2,797,4B

Over the five years through 2023, revenue for the Building Construction industry is expected to have been growing at an average annualized 4.4%, to $3.0 trillion. This includes an anticipated increase of 4.7% in 2023. There are approximately 36,700 construction firms in this industry. Most major players also have operations in civil engineering, real estate development, professional engineering services, plan designing, building materials manufacturing and construction equipment manufacturing. By operating across different sectors, firms can minimize their costs and maintain stable supply sources.

Larger general contractors are relatively stable and less vulnerable to external influences due to their broad business scope... Learn More

3. Online Shopping in China

Revenue for 2023: $2,547,5B

The Online Shopping industry in China is expected to grow at a CAGR of 17.0% over the five years through 2023, to total $2.4 trillion. This trend includes anticipated growth of 17.9% in the current year. The industry's rapid growth can be attributed to the rising popularity of ecommerce in China and online businesses continuously developing their services. Additionally, the number of mobile internet users has greatly increased over the past five years, as mobile internet services have continued to develop, boosting the industry's performance.

Most products are sold at lower prices in online shops than in brick-and-mortar stores. As... Learn More

4. Real Estate Development and Management in China

Revenue for 2023: $2,086,6B

Revenue for the Real Estate Development and Management industry in China is expected to decrease at a CAGR of 3.5% over the five years through 2023 to $1.5 trillion. This trend includes an expected decrease of 6.1% in the current year.

Since August 2020, the People's Bank of China and the China Banking and Insurance Regulatory Commission have proposed three debt indicators for real estate development and management companies through which the company's financial health can be rated. This new policy has exacerbated the company's debt pressure, making it unable to repay old debts by borrowing new debt. Some real estate... Learn More

5. Mail-Order & Online Shopping in China

Revenue for 2023: $2,067,5B

The Mail-Order and Online Shopping industry's revenue is expected to grow by a CAGR of 16.9% over the five years through 2023, to total of $2.4 trillion. This includes a revenue increase of 16.2% in the current year. Factors driving industry growth include improved living standards, rising wages, higher internet penetration, increased acceptance of internet shopping, and a growing range of retailers selling a larger range of products online.

Online retailing currently generates over 95.0% of industry revenue. According to the China Internet Network Information Center (CNNIC) and the National Bureau of Statistics, 845.0 million internet users in China had online... Learn More

6. Residential Real Estate in China

Revenue for 2023: $1,709,0B

Revenue for the Residential Real Estate industry in China is expected to decrease at a CAGR of 3.6% over the five years through 2023, to $1.3 trillion. This trend includes an expected decrease of 6.6% in the current year.

In recent years, a competitive market has led to issues of speculation and inflated housing prices. As a result, the Chinese government has implemented property-purchasing and loan limitations, price restrictions, and housing tax reforms to regulate the development of the industry and limit speculation. Since August 2020, the Central Bank and the China Banking and Insurance Regulatory Commission have proposed three debt... Learn More

7. Bridge, Tunnel and Subway Construction in China

Revenue for 2023: $1,563,5B

China's Bridge, Tunnel and Subway Construction industry has been growing rapidly, driven by urbanization, a growing population, increasing infrastructure demand and higher government investment. Industry revenue is expected to grow an annualized 8.4% over the five years through 2023, including 6.5% in 2023, to total $1.7 trillion.

Employment numbers are expected to grow at an annualized 5.6% over the five years through 2023. Most bridge, tunnel and subway construction major players also have operations in building construction, real estate development, toll road operation and municipal public management. By operating across different sectors, these firms can decrease costs and maintain stable supply... Learn More

8. Software Development in China

Revenue for 2023: $1,331,3B

The Software Development industry has grown strongly over the past five years. Industry revenue is expected to increase at an annualized 6.0% over the five years through 2023, to $1.4 trillion. This trend includes anticipated revenue growth of 5.7% in the current year. Strong demand from downstream software users and the government, along with solid pricing, have supported the industry's performance over the past five years. The industry's development has also been supported and encouraged by the Chinese Government, with the government instituting several policies to support the industry. The government's 14th Five-Year Plan (2021 to 2025) listed software development... Learn More

9. Steel Rolling in China

Revenue for 2023: $1,296,4B

In 2023, revenue for the Steel Rolling industry in China decreased by 7.4% to total $1.1 trillion. Over the past five years, revenue has increased at an annualized 1.1%, driven by rising demand for high quality and value-added steel products from downstream industries such as automobile manufacturing (IBISWorld industry report 3721) and real estate management and development (7210a and 7210b). Profit margins have recovered to 1.2% of industry revenue in 2023.

In recent years, industry operators have experienced supply surplus problems. However, long-term prospects are promising as China continues to become more urbanized and the government focuses on expanding infrastructure. The... Learn More

10. Oil & Petroleum Refining in China

Revenue for 2023: $1,007,1B

Several sectors in China, including the energy, machinery manufacturing, electricity, chemicals and metallurgy sectors, have gradually reached overcapacity in recent years. As a result, demand for crude oil and finished oils, including heating oil and diesel fuel, has fluctuated over the past five years. At the same time, with the improvement of refining capacity, China's domestic refined oil market has gradually oversupply. Crude oil price was largely increase since 2021. Industry revenue is expected to increase at an annualized 2.8% over the five years through 2023, to an estimated $853.0 billion. This trend includes a rise of 0.7% in the... Learn More