China News Service, Beijing, October 10 (Reporter Liu Yuying) China's industrial economic data for the third quarter have been released recently, showing that China's industrial economy is recovering, new momentum is outstanding, and the vitality of innovation and development continues to be released.
Industry is the "ballast stone" of economic development. In the first three quarters, the added value of China's industries above designated size increased by 4% year-on-year, and the growth rate was 0.2 percentage points faster than the first half of this year.
Guan Bing, director of the Institute of Industrial Economics of the CCID Research Institute, said in an exclusive interview with a reporter from the China News Agency that the positive factors of the industrial economy continued to accumulate in the third quarter, and the expectations and confidence of industrial enterprises gradually increased. This includes: the steady recovery of industrial production, the outstanding performance of new industrial kinetic energy, the significant acceleration of manufacturing investment, and the improvement of industrial capacity utilization.
The sustained recovery of industrial production is the effect of multiple factors such as short-term policy efforts, medium-term structural adjustment, and long-term transformation and upgrading. Data show that in September, the added value of China's industries above designated size increased by 9.4% year-on-year, and the growth rate of industrial economy showed a trend of improvement quarter by quarter.
From the perspective of industry, in the first three quarters, among the 41 major industries in the industry, the added value of 27 industries achieved growth, with an increase of 65.9%; From the perspective of products, among the 620 major industrial products counted, the output of 344 products has increased, with an increase of 55.5%, and the improvement of industry and product production has gradually expanded.
Guan Bing said that the new kinetic energy is gradually "picking the beam", among which the performance of the equipment manufacturing industry is particularly eye-catching. In the first three quarters, the added value of China's equipment manufacturing industry increased by 6.0% year-on-year, 2.0 percentage points ahead of the average level of industries above designated size. The new generation of high-end equipment and information technology industries such as special equipment manufacturing for the electronics industry, aircraft manufacturing, and intelligent consumer equipment manufacturing have developed rapidly, and the added value of the industry has increased by 27.4%, 16.6%, and 10.2% year-on-year respectively.
The output of major new energy and new material products has maintained rapid growth. In the first three quarters, China's new energy vehicle production increased by 26.7% year-on-year, and photovoltaic cells, automotive lithium-ion power batteries, and charging piles increased by 63.2%, 39.9%, and 34.2% respectively. New material products such as ultra-clear glass, polycrystalline silicon, and monocrystalline silicon for the solar industry increased by 74.5%, 84.0%, and 63.3% respectively.
In the first three quarters, China's manufacturing investment increased by 6.2% year-on-year, 1.8 percentage points faster than that from January to August and 1.7 percentage points from January to July, and 0.3 percentage points higher than all fixed asset investment. Among them, the investment in high-tech manufacturing increased by 0.5% year-on-year, and the private investment in manufacturing increased by 3.1% year-on-year. "Investment in the manufacturing industry has accelerated significantly, providing important support for the stable and continuous repair of the industry." Guan Bing analyzed.
The recovery of capacity utilization indicates that the industrial production market environment and enterprise operation are gradually improving. The data show that in the first three quarters, the national industrial capacity utilization rate was 74.8%, and from a quarterly point of view, the capacity utilization rate in the third quarter was 75.6%, up 1.3 and 1.1 percentage points respectively from the first and second quarters.
"Judging from the leading indicators, the industrial economy is bottoming out and is expected to maintain a sustained improvement trend." Guan Bing introduced. From the perspective of prosperity indicators, in September, China's manufacturing purchasing managers' index was 9.50%, up 2.0 percentage points from the previous month, and rose to the expansion range for the first time since April this year.
In terms of electricity consumption, in September, China's total social electricity consumption increased by 9.9% year-on-year, hitting a new high since March. Among them, the electricity consumption of the secondary industry increased by 9.3% year-on-year, a new high this year.
From the perspective of industrial prices, in September, affected by the gradual recovery of demand for industrial products and the continued rise in international crude oil prices, China's industrial producer price index (PPI) rose by 9.0% month-on-month, and PPI rose month-on-month for two consecutive months, indicating that enterprise production will show a gradual recovery trend.
Guan Bing believes that the data that still need to be repaired are: the gap in industrial exports needs to be filled, the profits of industrial enterprises need to be improved, and the development of small and medium-sized enterprises needs to be improved. In the next step, we need to continue to make efforts to strengthen policy implementation, expand effective demand, and enhance development momentum. (End)