(Fighting against New Coronary Pneumonia) China's economic war "epidemic" record: large-scale industrial enterprises fully resume work and resume production into economic stabilizers

  China News Agency, Beijing, April 18 (Reporter Liu Yuying) China's industrial production accelerated in March, and industrial added value almost returned to the level of the same period last year, exceeding expectations. Among them, the resumption of production and production of large industrial enterprises played a role of stabilizer.

  According to data released by the National Bureau of Statistics on the 17th, in the first quarter, the added value of China's above-scale industries declined by 8.4% year-on-year. Among them, in March, the added value of industrial enterprises above designated size actually decreased by 1.1% year-on-year, a decrease of 12.4 percentage points from January to February. From the month-on-month perspective, in March, the added value of the industrial enterprises above designated size increased by 32.13% over the previous month.

  China's official Purchasing Managers Index (PMI), which reflects manufacturing sentiment, also experienced a deep V rebound in March. According to statistics, the manufacturing PMI in March was 52.0%, up 16.3 percentage points from the previous month.

  The negative impact of the epidemic on industrial production has been alleviated. Qin Hailin, director of the Institute of Industrial Economics of CCID think tank, said that the orderly resumption of production and production in various places. Although the production of industrial enterprises experienced short-term control from January to February, industrial enterprises entered a rapid rework period in March.

  According to the statistics of the Ministry of Industry and Information Technology, as of April 14, the average operating rate of industrial enterprises above designated size in the country has reached 99%, and the rate of reinstatement of personnel has reached 94%.

  In March, the first two months of the affected foreign-funded, joint-stock and private enterprises quickly resumed work. Among them, due to the long industrial chain, automobile manufacturing was the industry most hit by the epidemic. The average daily output in March has increased by more than 40% compared with January-February.

  Digital related industries, such as integrated circuits, industrial robots also achieved a growth of more than 10% in March. The downstream computer, communications and other electronic equipment manufacturing industry's value-added growth in March was 9.9%.

  The performance of pharmaceutical manufacturing is particularly eye-catching, with added value increasing by more than 10% in March. The analysis believes that this is related to the increased production of medical supplies companies such as masks and ventilators under the epidemic.

  Li Kebobo, executive vice president of the China Institute of Economic Thought and Practice at Tsinghua University, believes that China has a complete range of industries, large-scale industrial production capacity, and a relatively complete industrial supporting base, which are important conditions for industrial companies to take the lead in achieving a substantial rebound.

  Industrial enterprise exports are also increasing. Li Qilin, the chief economist and director of the research institute of Guangdong Development Securities, believes that while domestic demand is gradually repaired, the backlog of orders for manufacturing enterprises from January to February is produced in March, and the value of export delivery in March increased by 3.1% , Hitting a new high since May 2019, which is also the core support to promote the March year-on-year growth of industrial added value exceeded expectations.

  Large enterprises are in a key position in the industry chain. Qin Hailin believes that the resumption of production and production of large enterprises and leading enterprises in the industrial chain effectively promotes the orderly production of upstream and downstream enterprises, and the industrial chain supply chain can be quickly restored.

  The Ministry of Industry and Information Technology adheres to the daily scheduling of 92 large leading enterprises, promotes the resumption of production of more than 7,600 core supporting enterprises, and drives more than 400,000 small and medium enterprises in the upstream and downstream.

  Like Aobo believes that among industrial enterprises above designated size, capital-intensive enterprises account for a relatively high proportion, a high degree of automation, and a strong ability to withstand the impact of the epidemic. For example, the steel industry still achieved positive growth in the first quarter, and Wuhan Iron and Steel was producing normally even during the closure of the city.

  However, it is worth noting that the inflection point of the foreign epidemic situation has not yet arrived, and overseas orders are shrinking, and there is still great uncertainty. In the first quarter, the national industrial capacity utilization rate was 67.3%, down 8.6 percentage points from the same period last year. The manufacturing capacity utilization rate was 67.2%, a decrease of 9.1 percentage points.

  Li Qilin said that companies and industries with high export dependence will affect production if there is no cash flow for a long time.

  Li Kebo said that it is necessary to prepare for the second impact of the international epidemic on China's industrial chain. Relevant enterprises should be helped to sort out possible production alternatives in advance, and prepare the relevant administrative licensing process for emergency production and import. (Finish)