Economic Buzz: China?s industrial production picks up in first quarter
By sector, mining output increased by 6.0% year on year, manufacturing grew by 6.4%, and the production and supply of electricity, heat, gas and water rose by 4.3%. Equipment manufacturing and high-tech manufacturing performed even better, growing by 8.9% and 12.5% respectively, which is 2.8 and 6.4 percentage points faster than overall industrial growth.
By ownership, the value added of state-owned enterprises rose by 4.8% year on year, share-holding enterprises by 6.6%, foreign-funded enterprises (including those from Hong Kong, Macao and Taiwan) by 3.9%, and private enterprises by 6.1%.
Looking at specific products, output of 3D printing devices increased by 54.0%, lithium-ion batteries by 40.8%, and industrial robots by 33.2% year on year.
In March alone, industrial output grew by 5.7% compared to a year earlier and edged up by 0.28% from the previous month. The Manufacturing Purchasing Managers? Index stood at 50.4% in March, 1.4 percentage points higher than in February, while the Production and Operation Expectation Index was 53.4%.
In the first two months of the year, total profits of industrial enterprises above the designated size reached 1,024.6 billion yuan, rising 15.2% year on year.
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