Industries with the Highest Growth in Employment in China in 2024

1. Solar Power Generation in China

Employment Growth for 2024: 12.0%

Under the background of global energy transforming from traditional energy to renewable energy, the Government in China has been issuing industry assistance policies to promote fast development of solar power generation. The Solar Power Generation industry in China has grown significantly over the past five years. Industry revenue is expected to increase at an annualized 17.4% over the five years through 2023, to $32.0 billion. This trend includes anticipated revenue growth of 17.9% in 2023. The installed capacity of solar power generation has been increasing rapidly, with share of solar power installed capacity accounting for total power generation installed capacity... Learn More

2. Plastic Surgery Hospitals in China

Employment Growth for 2024: 9.8%

Revenue for China's Plastic Surgery Hospitals industry is expected to rise an annualized 14.6% over the five years through 2023. This trend includes anticipated revenue growth of 15.1% in the current year, to $40.6 billion. Rising plastic and cosmetic surgery demand has been driven by changing attitudes toward self-image, technological advancements in industry procedures, higher disposable incomes and China's ageing population.

Recent industry trends include more men electing to have plastic surgery and increased patient concerns regarding procedural health and safety. Plastic surgery hospitals have introduced new technologies to reduce surgery risks, and the Chinese Government is increasing regulatory burdens. Micro-plastic... Learn More

3. Energy-Efficiency Consultants in China

Employment Growth for 2024: 9.6%

Revenue for the Energy-Efficiency Consultants industry in China is expected to grow at an annualized 9.3% over the five years through 2023 to $168.9 billion. This trend includes anticipated growth of 12.0% in the current year. Issued in 2010, the Interim Measures for Management of Financial Incentive Funds of Energy Management Contracting Projects allocated generous subsidies for Energy Performance Contracting (EPC) projects. This initiative marked the beginning of the industry's standardization in China. The industry includes an estimated 15,393 recorded (i.e., registered) energy service establishments in 2023, over half of which have conducted EPC projects. Most of these establishments are... Learn More

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

Employment Growth for 2024: 8.2%

The In-Home Care & Other Household Services industry in China has developed significantly in recent years. The industry has grown particularly due to the improving income levels of Chinese residents, increasing number of new births and elders, accelerating pace of life, and a high labor force participation rate. Industry revenue is expected to total $144.3 billion in 2023, which is a 12.7% increase from 2022. Moreover, the industry is anticipated to have an annualized growth rate of 12.2% over the past five years. Industry profit is low, with an average of 7.1% of industry revenue in 2023, mainly diminished by... Learn More

5. Alternative Energy in China

Employment Growth for 2024: 7.8%

The Alternative Energy industry in China is engaged in power generation via wind, geothermal, solar, tidal and biomass energy, and other new energy sources. Industry revenue is expected to grow steadily at an annualized 16.2% over the five years through 2023, to reach $111.7 billion. This includes expected growth of 13.1% in the current year. The primary industry drivers are increasing domestic demand, increasing environmental consciousness and heavy government assistance.

Industry profitability growth benefits from upstream equipment manufacturing technology improvement and growing electricity consumption. Profit is expected to make up 31.0% of total industry revenue in 2023, from 27.7% in 2018.

The... Learn More

6. Cafes, Bars & Other Drinking Establishments in China

Employment Growth for 2024: 7.5%

Revenue for the Cafes, Bars, and Other Drinking Establishments industry in China is expected to increase at a CAGR of 16.4% over the five years through 2023 to $9.0 billion. This trend includes an expected increase of 20.1% in the current year.

In recent years, lifestyle changes, an increasing emphasis on personal happiness, and the development of a range of drinking establishments have contributed to rapid industry growth. In addition, increasing urbanization in China and higher incomes have boosted the demand for industry services. Improvements in chain store and franchise management and the emergence of new brands have also supported the... Learn More

7. Cosmetic & Personal Care Product Manufacturing in China

Employment Growth for 2024: 6.8%

The Cosmetic and Personal Care Product Manufacturing industry has experienced strong growth over the past decade. China has become one of the largest cosmetics markets in the world and ranks first in Asia. Industry revenue is expected to grow an annualized 9.3% over the five years through 2023, to $39.9 billion. This includes anticipated 8.4% growth in the current year.

Industry revenue is forecast to grow an annualized 7.6% over the five years through 2028, to total $57.4 billion. Skincare and personal care will likely continue to become more high-end, and young consumers will remain the main force in the market.... Learn More

8. Cinemas in China

Employment Growth for 2024: 6.5%

The Cinemas industry has experienced relatively stable 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 0.6% over the five years through 2023, to total $9.3 billion. This trend includes a massive anticipated increase of 114.6% in the current year.

Cinemas in cities like Beijing and Shanghai contribute the most to industry revenue due to the higher average disposable income levels and higher concentrations of cinemas in these cities. The number of establishments, or cinemas, in the industry is estimated to... Learn More

9. Mail-Order & Online Shopping in China

Employment Growth for 2024: 6.3%

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

10. Securities Brokerage and Transaction Services in China

Employment Growth for 2024: 6.2%

Over the five years through 2023, revenue for the Securities Brokerage and Transaction Services industry has been increasing at an annualized 16.4%, to $31.2 billion. This includes expected industry revenue increase of 12.3% in the current year. Due to uncertainty brought about by the COVID-19, the international political geopolitical crisis and the fluctuation of the international financial market, the industry experienced significant fluctuations over the last five years. The competition in the industry is very fierce. The brokerage business of securities companies is seriously homogenized, and the commission price war leads to more fierce competition.

In 2016 and 2017, industry revenue... Learn More