Fastest Growing Industries in China by Revenue Growth (%) in 2021

1. Cinemas in China

2021-2022 Revenue Growth: 223.6%

The Cinemas industry has experienced relatively high growth over the past few years with increasing demand for premium entertainment and high-quality films. Revenue for the Cinemas industry in China is expected to increase at an annualized 4.7% over the five years through 2021, to total $9.4 billion. This trend includes an anticipated decline of 68.7% in 2020, as the COVID-19 pandemic has severely restricted film screening activity. In 2021, Chine's cinemas industry is expected to recover to normal.

Cinemas in cities such as Beijing and Shanghai contribute the most to industry revenue due to the higher average disposable income levels and... Learn More

2. Passenger Rail Transport in China

2021-2022 Revenue Growth: 55.3%

Revenue from the Passenger Rail Transport industry in China is expected to decrease at an annualized 7.0% over the five years through 2020, to total $30.9 billion. Industry passenger turnover is expected to decrease by 41.6% to reach 859.2 billion person-kilometers in 2020.

Until the mid-1990s, railway transportation was considered China's most important form of transportation. Under China's economic reforms, road and air transportation experienced tremendous growth, while the railway system grew at a slower rate. In terms of passenger numbers, railway transportation as a share of the total transportation system has decreased over the past decade. Railway passenger turnover in... Learn More

3. Department Stores & Shopping Malls in China

2021-2022 Revenue Growth: 26.2%

Revenue for the Department Stores and Shopping Mall industry in China is expected to grow at an annualized 1.6% over the five years through 2021, to an estimated $268.8 billion. Per capita disposable income and consumer spending power have grown over the past five years. Industry revenue is expected to decrease by 24.1% in 2021, due to the COVID-19 outbreak.

Industry establishment numbers have risen by 3.3% in the current year to an estimated 6.010 retail store locations. However, industry enterprise numbers are expected to fall by 1.8% in 2021, to 446. This decline is due to increased merger activity and... Learn More

4. Hotels in China

2021-2022 Revenue Growth: 22.3%

Rising tourist activity over the four years through 2019 has supported the industry's performance. Revenue for the Hotels industry in China is expected to decrease at an annualized 0.2% over the five years through 2021, to $65.7 billion. However, this trend includes an expected decline of 31.1% in 2020. The outbreak of COVID-19 at the end of 2019 in China caused many hotels to close operations in the first half of 2020, strongly affecting industry revenue in 2020. In 2021, as the virus is increasingly contained in China, the industry's sales revenue is anticipated to increase by 20.3%.

Foreign enterprises, which... Learn More

5. Online Shopping in China

2021-2022 Revenue Growth: 18.5%

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 made more purchases online during the COVID-19 outbreak, the industry's sales revenue... Learn More

6. Medical Device Manufacturing in China

2021-2022 Revenue Growth: 18.1%

The Medical Device Manufacturing industry is set to generate $26.1 billion in revenue in 2020, up 18.2% from 2019. Industry revenue is expected to grow at an annualized 12.5% over the five years through 2020. This growth has been supported by the increasing purchasing power of hospitals, improvements in living standards and therefore demand for medical diagnoses, technology upgrades in hospitals, requirements for higher quality products and the development of China's western regions. In 2020, the COVID-19 pandemic has significantly boosted industry revenue.

Domestic demand is set to increase by 15.2% in 2020, with imports accounting for an estimated 26.2% share.... Learn More

7. Toll Road Operation in China

2021-2022 Revenue Growth: 17.7%

Toll road operators charge motorists for the right to drive on highways. They collect tolls to compensate for the investment into highway construction as well as their maintenance. In China, most toll roads are invested in and managed by the government, and their revenue is primarily derived from tolls. Due to COVID-19 in 2020, revenue for the Toll Road Operation industry in China has been decreasing at an annualized rate of 0.8% in the five years through 2020. Total revenue is expected to reach $73.9 billion in 2020. Since industry activities are supervised by the government, there are only 145... Learn More

8. Couriers in China

2021-2022 Revenue Growth: 17.6%

The Courier industry is a relatively new business segment in China. In its modern form, it has existed for about 30 years. Due to an increasingly dynamic domestic economy and improved transportation infrastructure, the industry has experienced strong growth over the past decade. As a result, industry revenue is expected to increase at an annualized 15.1% over the five years through 2021, to $149.0 billion. This trend includes expected growth of 15.7% in the current year. Industry enterprises are expected to total 5,186 enterprises over the period, employing over 750,207 workers with a payroll of approximately $6.8 billion.

Couriers are expected... Learn More

9. Online Games in China

2021-2022 Revenue Growth: 17.1%

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 15.0% over the five years through 2021, to $54.7 billion. This trend includes expected growth of 15.2% in the current year. The popularity of online games has grown rapidly in China over the period. Approximately 67.2% of internet users now play online games.

The Chinese online... Learn More

10. Internet Services in China

2021-2022 Revenue Growth: 17.0%

Revenue for the Internet Services industry is expected to grow at a rapid 15.1% in 2021, to reach $812.3 billion. Industry revenue is expected to grow at an annualized 15.1% over the five years through 2021, 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 2021, and revenue for the Internet Services industry increased rapidly during this period.

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