Fastest Growing Industries in China by Revenue Growth (%) in 2020

1. Internet Services in China

2019-2020 Revenue Growth: 27.4%

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

2. Online Games in China

2019-2020 Revenue Growth: 27.2%

Enterprises in the Online Game industry in China produce (i.e. design and develop) and operate online games. Most online game companies both create and operate their games. However, some online game producers sell licenses to agencies, which are then solely responsible for the operation of the games.

Industry revenue is expected to increase at an annualized 15.2% over the five years through 2020, to $49.2 billion. This trend includes expected growth of 25.2% in the current year. The popularity of online games has grown rapidly in China over the period. Approximately 58.4% of internet users now play online games.

The Chinese online... Learn More

3. Online Shopping in China

2019-2020 Revenue Growth: 22.0%

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. Satellite Transmission Services in China

2019-2020 Revenue Growth: 18.5%

Revenue for the Satellite Transmission Services industry is expected to grow at an annualized 12.5% over the five years through 2020, to reach $834.2 million. The industry has benefited from increasing demand for satellite broadcasting television and satellite communication. The coverage of major sporting events, such as the 2008 Beijing Olympics, the 2010 Asian Games, the 2014 World Cup and the 2015 Beijing World Athletics Championships also significantly affected the industry's year-on-year performance. The industry comprises 192 enterprises employing approximately 4,434 people, with a payroll of $64.0 million.

Between 2005 and 2020, communications satellites including ChinaSat-15 and ChinaSat-16 were launched in... Learn More

5. Alternative-Fuel Car & Automobile Manufacturing in China

2019-2020 Revenue Growth: 17.8%

The Alternative-Fuel Car and Automobile Manufacturing industry in China has developed strongly in the past five years due to large government subsidies and favorable policies that have resulted in improving vehicle performances, increasing numbers of charging facilities, and changing attitudes toward environmental protection. Industry revenue is expected to increase at an annualized 35.7% over the past five years through 2020, to total $68.8 billion. This includes growth of 15.9% in the current year. Industry profit is relatively high, averaging 11.4% of industry revenue in 2020. Profitability has been stimulated by high levels of automation as well as government subsidies that... Learn More

6. Meat Processing in China

2019-2020 Revenue Growth: 17.3%

Revenue for the Meat Processing industry in China is expected to rise at an annualized 7.9% over the five years through 2020, to reach $157.3 billion. This includes anticipated growth of 15.4% in the current year. The dietary patterns of Chinese consumers have changed significantly as lifestyles have gradually become more fast paced. In addition, disposable incomes have been increasing. Processed meat consumption has been rising steadily, in line with income growth.

The Meat Processing industry in China produces a narrow range of processed meats. High-temperature meat products, such as sausages, do not require refrigeration and are cooked at about 120... Learn More

7. Chinese Medicinal Herb Growing in China

2019-2020 Revenue Growth: 16.6%

China is one of the largest growing and consuming countries of ginseng and pseudo-ginseng in the world. Rising prices and the growing popularity of traditional Chinese medicine (TCM) have driven increased supply and demand for industry products in recent years.

The Chinese Medicinal Herb Growing industry is expected to grow at an annualized 11.1% over the five years through 2020, to reach $35.7 billion. Over the period, the National Health and Family Planning Commission of the People's Republic of China was established to assist the industry by developing industry standards and optimizing the allocation of resources. Industry revenue is expected to... Learn More

8. Traditional Chinese Medicine Hospitals in China

2019-2020 Revenue Growth: 16.6%

Driven by government support and increasing demand from patients, the development of the Traditional Chinese Medicine Hospitals industry has accelerated in recent years. In 2020, revenue for this industry is expected to reach $94.1 billion, up 14.7% from 2019 and representing annualized growth of 13.6% from 2015.

For the Traditional Chinese Medicine Hospital industry, a growing number of patients has ensured revenue and profitability increases. Profitability has risen to an estimated 5.9% in 2020. The scale of traditional Chinese medicine hospitals has also been expanding. There are about 4,573 traditional Chinese medicine hospitals in China, each containing 216 beds on average.

ACMR-IBISWorld... Learn More

9. In-Home Care & Other Household Services in China

2019-2020 Revenue Growth: 16.0%

The In-home Care & Other Household Services industry in China has developed strongly in recent years due to the improving income levels of Chinese residents, increasing number of new births and elders, accelerating pace of life, high labor force participation rate, etc. Industry revenue is expected to total $100.6 billion in 2020, up 14.2% from 2019, with an annualized growth rate of 15.3% during the past five years. Industry profit is not high, average 7.1% of industry revenue in 2020, mainly squeezed by the rising labor costs in China.

There are large number of small-size companies and self-employed practitioners in the... Learn More

10. Optical Fiber and Cable Manufacturing in China

2019-2020 Revenue Growth: 15.9%

Revenue for the Optical Fiber and Cable Manufacturing industry is anticipated to increase by 14.1% in 2020, to $70.6 billion. Industry revenue is expected to increase at an annualized 15.2% over the five years through 2020. Strong domestic demand growth over the past five years has been due to many information technology and telecommunications projects that have required the industry's products. The information technology and telecommunications sectors have become the major markets for optical fiber and cable due to strong household demand for internet and mobile phone services. Power generation firms are another important market for the industry.

The industry is... Learn More