China’s industrial production rises 3.7 per cent in July
From January to July, industrial production rose 3.8 per cent year-on-year
China’s value-added industrial production, an important economic indicator, rose 3.7 per cent annually in July, data from the National Bureau of Statistics (NBS).
From January to July, industrial production rose 3.8 per cent year-on-year, according to the DNE, as reported by
Xinhua News Agency, a partner of TV BRICS.
China’s industrial production registered a stable recovery in the first seven months of this year, with the raw materials sector registering relatively rapid expansion, said Fu Linghui, spokesman for the DNE, at a press conference.
Among the three main sectors, mining and manufacturing grew by 1.3 per cent and 3.9 per cent respectively in July, while the production and supply of electricity, heating, gas and water rose by 4.1 per cent.
In July, there was an 8.8 per cent increase in production within the raw materials sector compared to the corresponding month of the previous year, marking a rise of 2 percentage points over the growth rate observed in the preceding month.
In relation to ownership, the output of state-controlled enterprises, joint-stock companies, and private companies experienced respective year-on-year growth rates of 3.4 per cent, 5 per cent, and 2.5 per cent during July.
Regarding specific products, solar cell production witnessed an impressive surge of 65.1 per cent, where the production of new energy vehicles exhibited a noteworthy growth of 24.9 per cent during the same period.
Industrial production is used to measure the activity of large companies, each with an annual core turnover of at least 20 million yuan (US$2.79 million).