China News Agency, Beijing, August 14 (Reporter Wang Enbo) China's industrial production continues to maintain steady growth. The National Bureau of Statistics of China announced on the 14th that in July, China's industrial value added above designated size increased by 4.8% year-on-year in real terms, and the growth rate was the same as in June. From a month-on-month perspective, in July, the value added of industries above designated size increased by 0.98% over the previous month. From January to July, the added value of industries above designated size fell by 0.4% year-on-year.
In July, in terms of economic types, the value added of state-owned holding companies increased by 4.1% year-on-year; joint-stock companies increased by 4.2%, foreign, Hong Kong, Macao and Taiwan-invested companies increased by 7.6%; private companies increased by 4.2%. Divided into three categories, the value added of the mining industry fell by 2.6%, the manufacturing industry increased by 6.0%, and the electricity, heat, gas and water production and supply industries increased by 1.7%.
Wen Bin, chief researcher of China Minsheng Bank, said that China's production resumed steadily in July, which was also confirmed by high-frequency data. At the end of the month, the operating rate of China's blast furnaces and the average daily crude steel output of key enterprises increased compared with the same period last year.
Wen Bin also pointed out that from a structural point of view, the year-on-year decline in the value-added of the mining industry had a major drag on the growth rate of industrial value-added in July. This was mainly due to heavy rains in the south and floods affecting related industrial production. However, the year-on-year growth rate of manufacturing value added that month increased by 0.9 percentage points from the previous month, which supported the industrial value added.
As he said, while industrial production is growing steadily, China's equipment manufacturing and high-tech manufacturing industries are growing rapidly.
According to Fu Linghui, spokesperson for the National Bureau of Statistics, in July, the added value of the equipment manufacturing industry and high-tech manufacturing industry increased by 13.0% and 9.8% year-on-year respectively, which was 8.2 and 5.0 percentage points faster than that of the above-scale industries. In terms of product output, the output of mining, shoveling and transporting machinery, automobiles, industrial robots, smart phones, and microcomputer equipment increased by 46.1%, 26.8%, 19.4%, 19.2%, and 17.8% respectively.
In addition, from January to June, China's industrial enterprises above designated size achieved a total profit of RMB 2511.49 billion, a year-on-year decrease of 12.8%, which was 6.5 percentage points lower than that from January to May. In June, the total profit of industrial enterprises above designated size increased by 11.5 year-on-year. %, the growth rate was 5.5% faster than that in May. (Finish)