China's Industrial Output Maintains Steady Expansion in November
Desk
korocamia@naver.com | 2024-12-16 20:51:25
Beijing, Dec. 16 – China's industrial output continued its steady expansion in November, buoyed by a series of measures to upgrade industrial equipment, according to official data released on Monday.
The National Bureau of Statistics (NBS) reported that the country's value-added industrial output, a key economic indicator, grew by 5.4 percent year-on-year in November.
Speaking at a press conference, NBS spokesperson Fu Linghui said that industrial output showed stable growth, driven by the increase in large-scale equipment and consumer goods trade-in programs.
NBS data showed that the output of the equipment manufacturing sector climbed 7.6 percent year-on-year in November, 1 percentage point higher than the previous month, accounting for nearly half of the overall industrial output growth.
The high-tech manufacturing industry also posted a remarkable performance, with output increasing by 7.8 percent year-on-year last month. This growth rate exceeded the overall industrial output by 2.4 percentage points.
Specifically, the production of new energy vehicles, industrial robots, and integrated circuits in China surged by 51.1 percent, 29.3 percent, and 8.7 percent, respectively, last month.
On a monthly basis, industrial output edged up 0.46 percent in November from the previous month, according to NBS data. Over the January-November period, the figure rose by 5.8 percent year-on-year.
Industrial output measures the activity of enterprises each with an annual main business turnover of at least 20 million yuan.
The purchasing managers' index (PMI) for the manufacturing sector last month stood at 50.3, up 0.2 percentage points from the previous month and exceeding the 50-point mark for the second time since returning to expansion in October after five consecutive months of contraction.
Driven by a series of policy measures, the Chinese economy has achieved generally stable growth while making progress, with positive factors accumulating, Fu said.
WEEKLY HOT
- 1MAFRA Unveils Success in Integrated Rural Care: Synergizing Social Farming and Medical Services
- 2Gov't Launches 'One-Team' Initiative to Transform Regional Airports into Tourism Hubs
- 3Generative AI Use Triples Among Seoul Citizens, but Digital Divide Persists for Seniors
- 4ITEyes Secures 3rd Consecutive Contract for National 'My HealthWay' Platform Operation
- 5TUKorea Bolsters Competitiveness in Semiconductor Hands-on Education, Beyond Simple Quota Increases
- 6ElevenLabs Partners with Caring to Support ‘Senior Emotional Care’ via Voice AI