China's manufacturing value-added output is expected to have increased by more than 8 trillion yuan (about 1.13 trillion U.S. dollars) during the 14th Five-Year Plan period (2021-2025), contributing over 30 percent of global growth, an official said on Tuesday.

China has maintained its position as the world's largest manufacturer for 15 straight years, Li Lecheng, minister of industry and information technology, told a press conference.

Over the past five years, China has steadily boosted innovation investment, with large-scale manufacturing firms, each with an annual main business turnover of at least 20 million yuan, spending more than 1.6 percent of their operating revenue on R&D, Li said.

More than 570 industrial companies now rank among the world's top 2,500 R&D spenders, he added.

Li also highlighted that China had joined multiple countries in launching the initiative on enhancing the resilience and stability of industrial and supply chains, aiming to safeguard global supply chains and foster more inclusive, stable partnerships.

Source: english.www.gov.cn