China: Forestry sector revenue to reach over $1 trillion in 2017

China,forestry sector,wood products

China's total forestry output is expected to exceed seven trillion yuan RMB ($1.06 trillion) in 2017, according to Chinese newspaper Economic Daily.

China has become the fastest-growing and most influential country in forest products manufacturing, trading, and consumption, said Zhang Jianlong, director of the State Forestry Administration (SFA), at a forum on forestry development on Dec. 5

"China has a forest area of 208 million hectares with 15.137 billion cubic metres of forest stock, covering 21.66 per cent of the country," Zhang noted.

China tops the world in the production of furniture, timber floors, wooden plates, bamboo wood, resin, and affordable forest products.

The rapid development of emerging forestry has become a new growth point. In 2016, the total output of China's forestry for the first time exceeded 6 trillion RMB.

However, the scale of the industry is still generally small; over 80 per cent of companies are small- and medium-sized enterprises. Labour productivity per capita is less than 1/6 of that in the developed countries.

In the next few years China will optimise traditional businesses such as forestry cultivation, wood manufacturing, paper making, forestry herbicides, and forestry equipment. According to Zhang, the country's total output of forestry industry will hit 8.7 trillion yuan in 2020.