National Bureau of Statistics- The added value of industries above designated size increased by 5.4% in September

On October 18, according to the National Bureau of Statistics, there has been a notable growth in China’s industrial sector. In September, the value added by large-scale industrial enterprises increased by 5.4% year-on-year, showing an acceleration of 0.9 percentage points compared to the previous month. On a month-to-month basis, the industrial value grew by 0.59% in September. For the period from January to September, the year-on-year increase was recorded at 5.8%.

Breaking down the data by sector, mining saw a year-on-year growth of 3.7% in September, while manufacturing and the production and supply of electricity, heat, gas, and water grew by 5.2% and 10.1%, respectively.

When examining economic types, state-controlled enterprises experienced a growth of 3.9%, while joint-stock companies grew by 6.2%. Foreign-invested enterprises and those from Hong Kong, Macau, and Taiwan saw a 2.4% increase, and private enterprises reported a 5.6% growth.

Looking at specific industries, out of 41 major sectors, 36 reported year-on-year growth in value added in September. Notably, the coal mining and washing industry grew by 3.2%, oil and gas extraction by 2.0%, and the processing of agricultural and sideline products by 1.7%. The beverage and refined tea manufacturing sector grew 5.6%, while textiles saw an increase of 5.1%. Conversely, the non-metallic mineral products sector declined by 3.8%. Other growth highlights included an 8.8% increase in non-ferrous metal smelting and processing, and an impressive 13.7% rise in the manufacturing of railway, shipbuilding, aerospace, and other transport equipment.

In terms of products, among the 619 kinds of industrial products, 345 saw year-on-year production increases in September. For instance, steel production reached 11.731 million tons, down 2.4%, and cement production was 16.847 million tons, down 10.3%. Notably, the production of new energy vehicles surged by 48.5%, reaching 1.308 million units. Overall, power generation increased by 6.0% to 802.4 billion kilowatt-hours, while crude oil processing slipped by 5.4% to 58.73 million tons.

Furthermore, the sales rate for products manufactured by large-scale industrial enterprises was 96.0%, reflecting a year-on-year decline of 1.4 percentage points. Additionally, these enterprises achieved an export delivery value of 1.4099 trillion yuan, marking a nominal year-on-year growth of 3.4%.