Interpretation of Industrial Production Data for July 2018 by Jiang Yuan from the National Bureau of Statistics

Commentary: Data is facts, speak with data, interpret relevant data, and understand the details of industrial development in July.

——Jiang Yuan, Senior Statistician of the Industrial Department of the National Bureau of Statistics, Interprets the Industrial Production Data for July

In July, industrial production remained stable and the structure continued to optimize, continuing the overall trend of steady and positive development. The added value of industrial enterprises above designated size in China increased by 6.0% year-on-year, with the growth rate remaining the same as in June. The main characteristics of industrial production in July are as follows.

Firstly, the growth of high-tech industries and strategic emerging industries is accelerating. In July, the added value of high-tech industries increased by 11.3% year-on-year, with a growth rate 1.4 percentage points faster than June, 5.3 percentage points higher than all industries above designated size, and accounting for 13.0% of industries above designated size, an increase of 0.7 percentage points year-on-year. Among them, industries such as electronic and communication equipment manufacturing, aerospace and equipment manufacturing, and computer and office equipment manufacturing all maintained double-digit growth in added value. Strategic emerging industries above designated size increased by 8.1% year-on-year, with a growth rate 1.1 percentage points faster than June, 2.1 percentage points higher than all industries above designated size, and accounting for 18.2% of industries above designated size, an increase of 0.3 percentage points year-on-year.

Secondly, the growth rate of over half of the industries has accelerated compared to last month. In July, among 41 major industries, the year-on-year growth rate of added value in 23 industries accelerated compared to June. Among them, the energy and raw material industries such as oil and gas extraction, oil processing, chemical industry, building materials, and non-ferrous metals, as well as the consumer goods industries such as tobacco, agricultural and sideline food processing, food manufacturing, textiles, textiles and clothing, and papermaking, and the equipment manufacturing industries such as electronics, electrical machinery, and metal products, have all rebounded significantly.

Thirdly, over half of the industrial products have seen an accelerated increase in production compared to the previous month. Among the 596 major industrial products included in the statistics, 334 products have either accelerated or narrowed their growth rate compared to June, accounting for 56.0%. Among them, service robots, smart TVs, 3D printing equipment, bio based chemical fibers, solar cells, integrated circuits, etc. have maintained high-speed growth.

Fourthly, the growth rate of industrial product exports has rebounded, and the contribution rate to value-added growth has increased.7In the month, the delivery value of industrial exports above designated size in China increased year-on-year8.7%Speed increase ratio6Monthly rebound5.9The contribution rate of percentage points to the added value of industries above designated size is11.2%, compared to6Month increase10.3One percentage point.41Within a large industry category, there are27The growth rate of the industry has rebounded. Among them, the top five industries in terms of export delivery value, namely electronics, electrical machinery, general equipment, chemical industry, and automobile manufacturing, saw year-on-year growth respectively10.4%、10.0%、9.9%、13.5%and16.3%Speed increase ratio6Accelerate each month separately8.9、5.8、5.1、3.0and8.4One percentage point.

来源:国家统计局网站，编辑/德湗