China Achieves Remarkable Progress in Innovation and Industrial Optimization: Gov't Work Report

Published: Mar 5, 2026 11:44

Save

The Government Work Report stated that over the past year, China’s development moved toward the new and the better, demonstrating vigorous vitality. New quality productive forces developed steadily, with abundant achievements in scientific and technological innovation; the R&D and application of artificial intelligence, biomedicine, robotics, quantum technology, and other fields were at the global forefront. New breakthroughs were made in independent chip R&D; Tianwen-2 embarked on its “star-chasing” journey; the large-scale application of BeiDou was comprehensively expanded; construction began on the hydropower project in the lower reaches of the Yarlung Zangbo River; the first domestically built electromagnetic catapult aircraft carrier, the Fujian, was officially commissioned; and domestically developed large models led the global open-source ecosystem. The industrial structure continued to be optimized: the value added of high-tech manufacturing and equipment manufacturing grew by 9.4 and 9.2, respectively; the production of industrial robots and integrated circuits increased by 28 and 10.9, respectively; annual NEV production exceeded 16 million units; and EV charging facilities surpassed 20 million. Energy consumption per unit of GDP fell by 5.1, and ecological and environmental quality continued to improve.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

39 mins ago

Inventory Turning Point Failed to Materialize, Aluminum Billet Market Remained Sluggish [SMM Aluminum Billet Weekly Review]

According to SMM statistics, as of March 5, aluminum billet inventory in China’s major consumption areas totaled 398,000 mt. Inventory first increased and then declined, still hovering around 400,000 mt.

39 mins ago

3 hours ago

Aluminum Prices Rise Sharply, Strong Selling Sentiment [SMM Spot Aluminum Midday Commentary]

3 hours ago

4 hours ago

Recovering Downstream Orders Support Discount Repair; SHFE Copper Spot Premiums Gradually Stabilize [SMM SHFE Copper Spot]

[SMM Shanghai Spot Copper] Looking ahead to tomorrow, Shanghai spot copper discounts are expected to continue a steady recovery trend. From the market structure perspective, the price spread between futures contracts for the next-month and C contracts continues to narrow slightly, and suppliers’ willingness to ship to delivery warehouses continues to decline. Supply side, domestic copper and previously price-locked imported cargoes continue to arrive, and with social inventory at a high level, overall circulating supply in the market remains ample. Demand side, downstream enterprises continue to advance work and production resumptions, and with SHFE copper futures prices having declined somewhat recently, downstream purchase willingness to buy the dip has increased; order activity has risen, providing support for spot discounts. Overall, Shanghai spot copper is expected to maintain stable trading activity tomorrow.

4 hours ago