But while the rest of the world outperformed China in just pharmaceuticals and IT and information technology services, the report said, the dominance might not be sustainable as the Chinese government has targeted biopharmaceuticals and artificial intelligence as key industries for development.
"China now dominates the strategically important industries in ITIF's Hamilton Index, producing more than any other nation in absolute terms and more than all but a few others in relative terms," the ITIF said.