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Agricultural Development Bank of China
News for Outlets

China's industrial Internet market size likely to top RMB914.65 bln in 2022, CCID Consulting

July 13, 2020


Abstract : China's industrial Internet industry is expected to grow steadily at an average annual compound rate of 14.4 percent in the next three years and hit a market size of 914.65 billion yuan in 2022, predicted Sun Huifeng, president of CCID Consulting affiliated to a think tank under the Ministry of Industry and Information Technology (MIIT).

BEIJING, July 13 (Xinhua) -- China's industrial Internet industry is expected to grow steadily at an average annual compound rate of 14.4 percent in the following three years and hit a market size of 914.65 billion yuan in 2022, predicted Sun Huifeng, president of CCID Consulting affiliated to a think tank under the Ministry of Industry and Information Technology (MIIT). 

As a core means to achieve informatization and intelligence, industrial Internet is the underlying infrastructure in building China into a manufacturing power and fueling the intelligent production and mass customization of the country's manufacturing industry, according to Sun. 

MIIT has been dedicated to promoting industrial Internet. It rolled out a work plan for industrial Internet for 2020, pointing out that it would promote policy implementation to create a benign environment for the industry.

For example, the ministry will facilitate the work of China Securities Regulatory Commission to support industrial Internet enterprises to go public and raise funds at home and abroad. It will also sustain the People's Bank of China and China Banking Insurance Regulatory Commission in strengthening credit support for industrial Internet. (Edited by Su Dan with Xinhua Silk Road, silviasu07@163.com)

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Keyword: funding industrial Internet

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