Advanced Equipment Manufacturing Industry

In 2020, the output of industrial companies with annual revenue of more than RMB 20 million increased by 1.1 percent year on year, exceeding RMB 870 billion. The production and sale of loaders, medium and large-sized buses, automobile steel wheels, joint bearings, road rollers, and small and medium-sized electrical machinery are at the forefront of advanced equipment manufacturing growth in China.

New Materials Industry

In 2020, industrial enterprises above the designated size increased their added value by 8.4 percent year on year with an output value of more than RMB 660 billion. Fujian province boasts a production capacity of more than 15,000 tons of rare earth materials, including magnetic materials, hydrogen storage materials, and luminescent materials. Twenty-eight grapheme-related platforms have been built across the province. The production of LED products, hydrogen storage alloy materials for hybrid battery and laser crystals ranks among the top in China.