Industrial production maintains rapid growth, high-quality development steadily advances - Sun Xiao, a statistician from the Industrial Department of the National Bureau of Statistics, interprets the industrial production data for May
In May, various regions and departments conscientiously implemented the decisions and deployments of the Party Central Committee and the State Council, and the combination effect of macro policies continued to show, with industrial production maintaining a rapid growth trend. Most industries and products have achieved growth, with strong support from equipment manufacturing, stable growth in consumer goods manufacturing, continuous promotion of high-end, intelligent, and green manufacturing, and new achievements in high-quality industrial development.
Industrial production maintains rapid growth.In May, the added value of industrial enterprises above designated size in China increased by 5.8% year-on-year, maintaining a relatively fast growth rate; After excluding seasonal factors, the month on month growth was 0.61%. From the perspective of the three major categories, the manufacturing industry grew by 6.2%, which is 0.4 percentage points higher than all industries above designated size; The mining industry grew by 5.7%, while the production and supply of electricity, heat, gas, and water increased by 2.2%. From the perspective of industries and products, among the 41 major categories of industries, the added value of 35 industries increased year-on-year, with a growth rate of 85.4%; Among the 623 major industrial products in the statistics, 326 products achieved an increase in output, with a growth rate of 52.3%. From a cumulative perspective, from January to May, the added value of industrial enterprises above designated size in China increased by 6.3% year-on-year.
The equipment manufacturing industry consolidates the industrial foundation.In May, the added value of equipment manufacturing industry above designated size increased by 9.0% year-on-year, with a growth rate 3.2 percentage points higher than that of all industries above designated size, and contributed 54.3% to the production growth of all industries above designated size; The proportion of industries above designated size is 36.7%, which has remained above 30% for 27 consecutive months, and the industrial structure continues to optimize. From an industry perspective, all eight equipment manufacturing industries have maintained growth. Among them, the automotive industry has both strong production and sales, with a monthly increase in added value of 11.6%, which is 2.4 percentage points faster than April; The railway, shipbuilding, aerospace, electrical machinery, electronics and other industries maintained double-digit growth, with growth rates of 14.6%, 11.0%, and 10.2%, respectively.
The consumer goods manufacturing industry maintains stable growth.In May, the added value of consumer goods manufacturing above designated size increased by 2.5% year-on-year. Among the 13 major categories of consumer goods manufacturing, 10 industries maintained growth, with a growth rate of 76.9%. Among them, the cultural, educational, industrial, aesthetic, chemical fiber, and agricultural and sideline food industries increased by 10.1%, 6.1%, and 7.6% respectively, accelerating by 10.0, 0.6, and 0.3 percentage points compared to April. From a product perspective, the production of fiber-reinforced plastic products, carbon fiber and its composite materials, and nutritional and health foods increased by 22.6%, 17.9%, and 14.9%, respectively.
New quality productivity leads transformation and upgrading.In May, the high-end, intelligent, and green development of the manufacturing industry continued to advance. The high-end manufacturing industry leads high-quality development, with the added value of high-tech manufacturing above designated size increasing by 8.6% year-on-year, driving the growth of all industries above designated size by 1.4 percentage points. Among them, aircraft manufacturing, industrial control computer and system manufacturing, and electronic component and electronic special material manufacturing increased by 18.7%, 15.5%, and 14.5% respectively; The production of generator sets, fully loaded container ships, ground communication navigation and directional equipment and other products increased by 43.1%, 40.9%, and 25.0% respectively. The transformation of industrial digitization is steadily advancing, with the added value of digital product manufacturing above a certain scale increasing by 9.1%. Among them, industries such as intelligent device manufacturing and electronic component and equipment manufacturing have grown by 17.5% and 11.0% respectively; Driven by the rapid development of large-scale models, server production has increased by 2.2 times, while the production of intelligent products such as 3D printing equipment, industrial robots, and service robots has increased by 40.0%, 35.5%, and 13.8%, respectively. The green level of industrial products continues to improve, and the performance of "new three types" related products such as new energy vehicles, lithium-ion power batteries for automobiles, and solar cells is impressive, with production increasing by 31.7%, 52.5%, and 27.8% respectively; The supply of green materials has increased, and the production of new materials such as high-performance chemical fibers and bio based chemical fibers has increased by 92.2% and 21.5% respectively.
The effects of the "two new" policies continue to emerge.The "two new" policies in various regions have been strengthened and expanded, continuously releasing consumption potential and driving rapid growth of related industries and products. In May, driven by factors such as equipment renewal policies, the added value of industries such as motor manufacturing, shipbuilding and related equipment manufacturing, and boiler and original equipment manufacturing increased by 23.3%, 12.8%, and 11.8% year-on-year, respectively; The output of products such as metal rolling equipment, gas separation and liquefaction equipment, packaging specialized equipment, and casting machinery increased by 34.3%, 33.6%, 29.0%, and 26.7%, respectively. In terms of trade in, driven by policies such as subsidies for scrapping and replacing cars, car production increased by 11.3%, and related charging pile production increased by 26.0%; Thanks to the support of consumer goods trade in and purchase subsidy policies, products such as tablets, electric bicycles, and 5G smartphones have achieved rapid growth, with growth rates of 30.9%, 20.5%, and 13.4%, respectively.
Overall, industrial production maintained a stable growth trend in May. However, it should also be noted that the external environment is complex and changing, and domestic effective demand is still weak, putting pressure on the profitability of industrial enterprises. In the next stage, we must continue to fully, accurately, and comprehensively implement the new development concept, construct a new development pattern, cultivate and strengthen new quality productive forces, respond to various uncertainties with the certainty of high-quality development, and continuously consolidate the foundation for the sustained recovery and improvement of the industrial economy.
Source: China Machinery Industry Federation (official account)
