Industries with the Highest Growth in Employment in China in 2023

1. Alternative-Fuel Car & Automobile Manufacturing in China

Employment Growth for 2023: 15.0%

The Alternative-Fuel Car and Automobile Manufacturing industry in China has developed strongly in the past five years due to government 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 48.1% over the past five years through 2022, to total $255.1 billion. This includes growth of 55.9% in the current year. Industry profit is relatively high, averaging 11.0% of industry revenue in 2022, lower than 11.4% in 2021, mainly due to increasing prices of automobile parts.

Industry exports are limited, estimated at... Learn More

2. Energy-Efficiency Consultants in China

Employment Growth for 2023: 10.3%

Revenue for the Energy-Efficiency Consultants industry in China is expected to grow at an annualized 9.9% over the five years through 2022, to $150.8 billion. This trend includes anticipated growth of 6.0% in the current year. A range of energy-saving and emission reduction regulations implemented in 2006 have supported the industry's rapid growth over the past five years. Issued in 2010, the Interim Measures for Management of Financial Incentive Funds of Energy Management Contracting Projects allocated generous subsidies for contract energy management (CEM) projects. This initiative marked the beginning of the industry's standardization in China. The industry includes an estimated... Learn More

3. Plastic Surgery Hospitals in China

Employment Growth for 2023: 10.3%

Revenue for the Plastic Surgery Hospitals industry in China is expected to rise at an annualized 15.2% over the five years through 2022. This trend includes anticipated revenue growth of 16.7% in the current year, to $15.8 billion. Rising demand for plastic surgery 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 a rising number of men electing to have plastic surgery and increased patient concerns regarding the health and safety of procedures. Plastic surgery hospitals have been introducing new technologies to reduce surgery risks, and... Learn More

4. Solar Power Generation in China

Employment Growth for 2023: 10.1%

The Solar Power Generation industry in China has grown significantly over the past five years. Industry revenue is expected to increase at an annualized 14.9% over the five years through 2022, to $9.3 billion. This trend includes anticipated revenue growth of 16.7% in 2022. In 2021, China's cumulative solar power output was 183.7 billion kilowatt hours, an increase of 14.1% from 2020.

Rising household demand for electricity in China has led to several power supply shortages over the past few years, stimulating demand for solar power generation. Additionally, a reliance on imported oil and gas resources for power and increasing environmental... Learn More

5. Preschools in China

Employment Growth for 2023: 9.4%

The Preschools in China industry developed rapidly before 2019, largely due to increased government investment and the growing number of preschool-aged children. From 2019 to 2021, affected by the outbreak of COVID-19 intermittently in China, most preschools had to be closed temporarily. Revenue growth of the company slowed down in the period. With general increasing number of preschoolers, which reached the highest record in 2020 and constant increased of state input in preschool education, the industry revenue was estimated to keep increasing in the years to 2021. With continual decreases of birth rate, the number of preschoolers are expected to... Learn More

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

Employment Growth for 2023: 8.5%

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 $126.5 billion in 2022, which is a 14.2% increase from 2021. Moreover, the industry is anticipated to have an annualized growth rate of 13.5% over the past five years. Industry profit is low, with an average of 7.1% of industry revenue in 2022, mainly diminished by... Learn More

7. Pharmacies & Drugstores in China

Employment Growth for 2023: 7.3%

Revenue for the Pharmacies and Drugstores industry is expected to grow at an annualized 6.9% over the five years through 2022. In 2022, industry revenue is expected to grow by 6.0% to $9.7 billion, to $195.5 billion. Many factors have supported the industry's development, including substantial growth in domestic demand for drugs retailed by drugstores, relatively higher drug prices in hospitals and consumers' increased ability to self-medicate. Additionally, China's accession to the World Trade Organization in December 2001 and the subsequent input of foreign investment have boosted industry growth. The government's support for the development of chain drug retailing enterprises... Learn More

8. Cafes, Bars & Other Drinking Establishments in China

Employment Growth for 2023: 7.1%

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

9. Cosmetic & Personal Care Product Manufacturing in China

Employment Growth for 2023: 7.0%

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 at an annualized 9.4% over the five years through 2022, to $37.8 billion. This includes anticipated growth of 10.7% in the current year.

Industry revenue is forecast to grow at an annualized 7.2% over the five years through 2027, to total $53.5 billion. Skincare and personal care will likely continue to become more high-end. Young consumers will remain the main force in... Learn More

10. Biological and Biochemical Product Manufacturing in China

Employment Growth for 2023: 6.7%

The Biological and Biochemical Product Manufacturing industry has grown its revenue by an annualized 11.5% over the five years through 2022, to total $109.7 billion. The industry has benefited from the development of the national economy, rising household disposable incomes and increasing investment in the healthcare sector by the government. Improvements in China's social security system, the establishment of a public health system and the formation of the new rural cooperative medical care system have boosted demand for industry products, particularly vaccines. Under the influence of the COVID-19 pandemic, people's willingness to receive flu vaccines and other types of vaccines... Learn More