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China's Listed Companies See Strong Growth in 2023, Driven by Consumption and Innovation

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China's Listed Companies Report Robust Performance in 2023

China's listed companies reported strong financial performance in 2023, with notable growth in the consumer and export markets. The transportation, warehousing, and postal industry saw a 4.78% increase in operating revenue and a 57.13% jump in net profits.

Analysts attribute the improved performance of consumer-related companies to China's consumption recovery. Last year, final consumption contributed 82.5% to GDP growth, with retail sales of consumer goods exceeding 47 trillion yuan. The May Day holiday also saw a surge in domestic tourism, with 295 million trips made and 166.89 billion yuan spent.

China's exports of the tech-intensive green trio – lithium-ion batteries, photovoltaic products, and NEVs – reached 1.06 trillion yuan, a 29.9% increase year-on-year. Listed companies in this sector saw revenue growth of over 10% in 2023.

The gradual shift of China's industrial chain is evident in the investment trends. Over 60% of funds raised by Shenzhen Stock Exchange's IPOs and refinancing activities flowed to strategic emerging industries. The number of listed firms in advanced manufacturing, digital economy, and green and low-carbon development sectors has significantly increased.

China's listed companies demonstrated strong performance in 2023, driven by consumer recovery, export growth in the tech-intensive green trio, and a shift towards strategic emerging industries. This positive trend indicates a promising future for China's economy.

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May 21, 2023 | 05:09