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: $2,137,9B

The Online Shopping industry in China is expected to grow at an annualized 18.9% over the five years through 2022, to total $2.5 trillion. This trend includes anticipated growth of 16.8% 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. Moreover, as people have made more purchases online during the COVID-19 pandemic, the industry's sales revenue... 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 increase at an annualized 6.0% over the five years through 2021, to $2.1 trillion. This trend includes expected growth of 6.0% 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 98,417 developers are expected to operate in the industry, and employ approximately 2.6 million... Learn More

5. Mail-Order & Online Shopping in China

Revenue for 2023: $1,754,0B

The Mail-Order and Online Shopping industry's revenue is expected to grow by an annualized 16.6% over the five years through 2022, to total $2.1 trillion. Industry revenue is expected to grow by 17.4% 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 95.0% of industry revenue. According to the China Internet Network Information Center (CNNIC) and the National Bureau of Statistics, 842.0 million internet users in China had online shopping... Learn More

6. Residential Real Estate in China

Revenue for 2023: $1,623,7B

China's Residential Real Estate industry has grown alongside its economy. The industry is expected to grow at an annualized 5.2% over the five years through 2022, to $1.7 trillion. This trend includes an expected increase of 5.3% 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. The government has implemented these measures on the principal that residential real estate is used for... Learn More

7. Bridge, Tunnel and Subway Construction in China

Revenue for 2023: $1,412,4B

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 industry is expected to grow at an annualized 9.7% over the five years through 2022, to total $1.6 trillion.

The industry includes 2,626 enterprises, up from 2,000 in 2016, reflecting annualized growth of 4.5% over the five years through 2022. In 2022, the industry has an estimated 25,735 establishments, which employ 13.0 million workers, with a payroll of $86.2 billion. Employment numbers are expected to grow at an... 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 6.7% over the five years through 2022, to $1.3 trillion. This trend includes anticipated revenue growth of 7.2% 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) listed software development... Learn More

9. Steel Rolling in China

Revenue for 2023: $1,261,0B

In 2022, revenue for the Steel Rolling industry in China increased by 1.2% to total $1.3 trillion. Over the past five years, revenue has increased at an annualized 5.7%, 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, 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 number of enterprises operating in the industry has been falling over... Learn More

10. Internet Services in China

Revenue for 2023: $1,004,4B

Revenue for the Internet Services industry is expected to grow at a rapid 15.1% in 2022, to reach $1.0 trillion. Industry revenue is expected to grow at an annualized 20.9% over the five years through 2022, 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 in 2020, and revenue for the Internet Services industry increased rapidly during this period.

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