BEIJING – Official data shows that China’s industrial output is an important economic indicator, with a year-on-year increase of 6.5% in the first quarter of 2019.
According to the National Bureau of Statistics, the growth rate is 1.2 percentage points higher than the January-February period.
Ownership analysis shows that in the first quarter, the industrial output value of state-owned holding companies and joint-stock companies increased by 4.5% and 7.8% respectively. At the same time, the industrial output value of enterprises funded by overseas investors increased by 1.4%.
The National Bureau of Statistics said in a statement that industrial production grew faster in the first quarter, with more high-tech industries.
The high-tech industry maintained rapid expansion, with output increasing by 7.8% year-on-year and 0.8 percentage points higher than the same period last year.
With the growth of mobile communication base station equipment, urban rail vehicles, new energy vehicles and solar panels, the growth rate of new products was strong by 153.7%, 54.1%, 48.2% and 18.2% respectively.
In March alone, industrial output increased by 8.5% year-on-year, the highest since July 2014, up 3.2 percentage points from January to February.
Industrial output, officially known as industrial value added, is used to measure the activities of designated large companies with an annual turnover of at least 20 million yuan ($2.9 million).
News Source: China Daily
