China's industrial output up 3.4 pct in H1-Xinhua

China's industrial output up 3.4 pct in H1

Source: Xinhua

Editor: huaxia

2022-07-15 13:56:45

BEIJING, July 15 (Xinhua) -- China's value-added industrial output, an important economic indicator, went up 3.4 percent year on year in the first half (H1) of this year, data from the National Bureau of Statistics (NBS) showed Friday.

In June alone, industrial output growth quickened to 3.9 percent year on year, expanding by 3.2 percentage points from that in May, according to the NBS.

The industrial output measures the activity of designated large enterprises with an annual business turnover of at least 20 million yuan (about 2.96 million U.S. dollars).

June's figure put the average growth during the second quarter at 0.7 percent, after logging a 2.9-percent decline in April and a 0.7-percent rise in May, the NBS data showed.

In a breakdown by ownership, the output of share-holding enterprises led the gains with a year-on-year growth of 4.8 percent in H1, followed by that of the private sector and state-controlled enterprises.

Among the three major sectors of manufacturing, mining, and the production and supply of utilities, the mining sector's output showed the fastest growth, climbing 9.5 percent year on year in H1.

The high-tech manufacturing sector stood out with a year-on-year growth of 9.6 percent, 6.2 percentage points higher than the overall industrial output growth, according to the NBS.

In terms of products, the production of new-energy automobiles, solar cells, and mobile communication base stations surged by 111.2 percent, 31.8 percent, and 19.8 percent year on year, respectively.

Friday's data also showed that China's gross domestic product expanded 2.5 percent year on year in the first half of 2022, with the figure standing at 0.4 percent in the second quarter.