Investment in China's high-tech industries registered two-digit growth in first half of this year, playing positive role in accelerating the transformation and upgrading of China's economy. The latest data released by the National Bureau of Statistics of China showed that the country's investment in high-tech industries in the first six months of 2023 surged by 12.5 percent year on year, and its proportion in the total investment increased by 0.7 percentage point compared with the same period of last year.

In particular, investment in high-tech manufacturing and high-tech service industries soared by 11.8 percent and 13.9 percent respectively.

Since the beginning of this year, multiple policies and measures have been rolled out by the government to fuel rapid development of high-tech industries across the country. Guangdong Province in south China aims to promote digital transformation of more than 5,000 enterprises this year. Henan in the central part of the country focuses on smart sensors and 5G new materials, increase investment in high-tech industries and strategic emerging industries, and fosters emerging industrial clusters. Meanwhile, focusing on electronic information, new energy, and modern medicine, Jiangxi in east China is making every effort to strengthen and expand 12 key manufacturing industry chains and create six advanced manufacturing clusters.

"In the first half of this year, high-tech industries underwent steady growth, which has ensured the effective supply capacity to promote optimization and upgrading of China's industrial structure. It is also conducive to continuously supporting efforts of industries to solve difficult problems in developing crucial core technologies. Constantly cultivating and expanding new economic growth points plays a key role in unclogging the economic cycle and building a modern industrial system," explained Sheng Lei, deputy director of the Investment Institute under the Academy of Macroeconomic Research.

The rapid development of new technologies and new industries so far this year has also expanded new investment space for high-tech industries.

In the first half of the year, the sales of new energy vehicles exceeded 3 million units, and the output of lithium-ion batteries and charging piles increased by 46.4 percent and 53.1 percent respectively over last year. Meanwhile, thanks to fast transformation and upgrading of the automobile industry, investment in the automobile manufacturing industry and the electrical machinery industry increased by 20 percent and 38.9 percent respectively year on year.

In the same period, the production capacity of aluminum alloy and industrial control computers jumped 23.3 percent and 34.1 percent separately, driving rapid growth of semiconductor-related industries in China.