Biggest Industries by Revenue in China in 2020

1. Building Construction in China

Revenue for 2020: $2,486,8B

Over the five years through 2020, revenue for the Building Construction industry has been growing at an annualized rate of 4.8%, to $2.5 trillion. This includes an expected increase of 5.6% in the current year. There are approximately 32,900 construction firms in this industry. Most of the building construction 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 are able to decrease costs and maintain stable supply sources.

Large general contractors are relatively stable and less vulnerable to industry changes, due... Learn More

2. Real Estate Development and Management in China

Revenue for 2020: $1,957,1B

Revenue for the Real Estate Development and Management industry in China is expected to increase at an annualized 10.3% over the five years through 2019, to $1.96 trillion. This trend includes expected growth of 7.5% in the current year. Strong housing demand has supported rapid industry development over the past decade. With China's large population and rapid urbanization, demand is growing for residential buildings developed by enterprises in the industry. Increased household income levels and low interest rates have enabled more people to purchase housing. Approximately 108,273 developers are expected to operate in the industry, and employ nearly 3.2 million... Learn More

3. Online Shopping in China

Revenue for 2020: $1,774,1B

The Online Shopping industry in China is expected to grow at an annualized 22.5% over the five years through 2020, to total $1.8 trillion. This trend includes expected growth of 20.1% 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. In addition, 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. Moreover, as people have made more purchases online during the COVID-19 outbreak, the industry's sales... Learn More

4. Residential Real Estate in China

Revenue for 2020: $1,529,5B

China's Residential Real Estate industry has grown alongside its economy. The industry is expected to grow at an annualized 5.0% over the five years through 2020 to reach $1.5 trillion.

In recent years, an overheated 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. The government insists on the principal that residential real estate is used for living not speculation.

Due to these new government policies, ACMR-IBISWorld anticipates that industry revenue will... Learn More

5. Mail-Order & Online Shopping in China

Revenue for 2020: $1,320,0B

The Mail-Order and Online Shopping industry's revenue is expected to grow by an annualized 15.9% over the five years through 2020, to total $1.3 trillion. Industry revenue is expected to grow by 9.3% over 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 90.0% of industry revenue. According to the China Internet Network Information Center (CNNIC) and the National Bureau of Statistics, 638.3 million internet users in China had online shopping... Learn More

6. Bridge, Tunnel and Subway Construction in China

Revenue for 2020: $1,261,5B

The Bridge, Tunnel and Subway Construction industry in China has been growing rapidly, driven by China's urbanization, increasing population flow, increasing traffic and demand for infrastructure, and increasing government investment. Revenue for the Bridge, Tunnel and Subway Construction industry is expected to grow at an annualized 11.3% over the five years through 2020, to total $1261.6 billion.

There are 2,421 enterprises operating in the industry, up from 1,897 in 2015, reflecting annualized growth of 5.0% over the five years through 2020. In 2020, there are 23,499 industry establishments, which employ 11.7 million workers, with a payroll of $71.9 billion. Employment numbers... Learn More

7. Software Development in China

Revenue for 2020: $1,106,7B

The Software Development industry has grown strongly over the past five years. Industry revenue is expected to increase at an annualized 10.1% over the five years through 2019, to $1.11 trillion. This trend includes anticipated revenue growth of 10.3% 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 13th Five-Year Plan (2016 to 2020) lists software development... Learn More

8. Steel Rolling in China

Revenue for 2020: $1,062,2B

In 2020, revenue for the Steel Rolling industry in China increased by 4.2% to total $1.1 trillion. Over the past five years, revenue has been increasing at an annualized rate of 4.5%, 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).

In recent years, there have been supply surplus problems within the industry. However, long-term prospects are promising as China continues to become more urbanized and the government focuses on expanding infrastructure. The number of enterprises operating in the... Learn More

9. Engineering Services in China

Revenue for 2020: $827,7B

China's rapid economic growth created a major market for engineering services in recent decades. Meanwhile, government reforms promoted the commercialization of related technology. In 2019, revenue for the Engineering Services industry is estimated to reach $827.7 billion, up 7.8% from 2018. Revenue growth is expected to slow compared with previous years due to slower growth in building and civil engineering construction output value over the year. Industry revenue has increased at an annualized rate of 7.6% over the five years through 2019,

China's construction and civil engineering industries grew consistently over the past several years. Infrastructure investment is a key... Learn More

10. Internet Services in China

Revenue for 2020: $803,1B

Revenue for the Internet Services industry is expected to grow at a rapid 25.4% in 2020, to reach $803.1 billion. Industry revenue is expected to grow at an annualized 34.9% over the five years through 2020, driven by booming domestic demand. The number of internet users in China has increased rapidly over the period. The COVID-19 outbreak in China drove market demand for internet services in China. The pandemic situation in China was serious over the first quarter of 2020, and revenue for the Internet Services industry increased rapidly during this period.

The application services segment has become more important to... Learn More