China saw a surge in new companies in emerging technology sectors during the first half of the year, even as thousands of firms in the new energy industry exited the market, according to the State Administration for Market Regulation.
A total of 7,632 new energy vehicle-related companies, 5,089 photovoltaic firms and 155 lithium battery companies were deregistered in the first six months, representing year-on-year increases of 4.6 per cent, 8.3pc and 12.3pc respectively.
At the same time, generative artificial intelligence continued to attract strong investment, with 55,000 new companies established in the sector during the period, up 28pc from a year earlier.
The humanoid robotics industry recorded even faster growth, with 116,000 new companies registered, marking a 9.5pc year-on-year increase.
The figures reflect growing entrepreneurial activity in emerging technologies that Beijing expects to become new drivers of economic growth.
China’s high-tech manufacturing sector also expanded, with the number of enterprises reaching 330,000 by the end of June. Around 15,000 new high-tech manufacturing firms were established during the first half of the year.
Companies involved in spacecraft and launch vehicle manufacturing recorded the sharpest increase, rising 185.7pc year-on-year. Optical fibre and cable manufacturing grew 129.4pc, while integrated circuit manufacturing increased by 24.2pc.
