China's public procurement value tops 48 trln yuan in 2022

BEIJING, July 7 (Xinhua) -- China's public procurement value exceeded 48 trillion yuan (6.67 trillion U.S. dollars) in 2022, an industry report said Friday.

The active public procurement market has injected new growth momentum into China's economy, said the report released by the China Federation of Logistics and Purchasing.

It has been a trend for public procurement activities to turn to supply chain management, the report said.

China's public procurement stood at over 45 trillion yuan in 2021, according to a previous report released by the federation.