Beijing, China – Official data released on Monday showed that the value added of industrial output in China grew by 4.8% year-on-year during November.
This is an indicator that reflects the continued activity of the industrial sector
in the world’s second largest economy despite the existing economic challenges.
Xinhua News Agency reported that China industrial output increased
by 6% during the first eleven months of this year compared to the same period last year.
Based on data issued by the National Statistics Authority, this reflects
a relatively stable performance of the sector throughout the year.
High added value
The industrial output index is used to measure the activity of companies
whose annual main business volume is at least 20 million yuan.
This is equivalent to about US$2.8 million, and is one of the key indicators
for measuring the pace of economic activity in the country.
According to detailed data, the added value of industrial output
in the mining sector increased by 6.3% year-on-year during November.
This indicates a relative improvement in the performance of this sector compared to other sectors.
In the manufacturing sector, the value added to output recorded a growth of 4.6%.
Driven by stable production in a number of key manufacturing industries.
The figures also showed that the value added to output in the electricity, heat, gas
and water production and supply sectors increased by 4.3% during the same month.
This comes amid increased demand for energy and related services
as winter approaches in a number of regions.
Recovery of the Chinese industrial sector
Analysts believe these results reflect the continued recovery of the Chinese industrial sector,
albeit at varying paces across different sectors.
This comes at a time when the Chinese government continues
to implement policies that support growth and stimulate investment.
This performance comes as Beijing seeks to strike a balance
between supporting economic activity and maintaining financial stability.
With a focus on promoting high value-added industries
and supporting industrial and technological transformation.
The sector’s performance remains a key element in assessing the trajectory
of the Chinese economy in the coming period.
This is due to its key role in growth, employment, and local and global supply chains.
