Home » China’s Industrial Economy Shows Signs of Recovery with 3.8% Growth in First Half of 2021

China’s Industrial Economy Shows Signs of Recovery with 3.8% Growth in First Half of 2021

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Industrial Economy in China Shows Recovery with 3.8% Increase in First Half of the Year

The Ministry of Industry and Information Technology announced at a press conference held by the State Council Information Office this morning that the industrial economy in China is showing signs of recovery. The effects of various economic stabilization policies that have been implemented since March are beginning to take effect, resulting in a year-on-year increase of 3.8% in the added value of industries above designated size in the first half of this year.

Compared to the growth rate in the first quarter, this represents a 0.8 percentage point increase. The positive trend continued in May and June, with year-on-year growth rates of 3.5% and 4.4% respectively. This demonstrates a monthly recovery trend in the industrial sector.

Furthermore, industrial investment also saw significant expansion, with a year-on-year increase of 8.9% in the first half of the year, outpacing the growth rate in the first quarter by 0.3 percentage points.

The export of electric vehicles, lithium batteries, and photovoltaic “three new products” played a crucial role in driving this growth, with a remarkable 61.6% year-on-year increase in the first half of the year. Additionally, the profit margin of enterprises significantly improved, with a narrowing decline in profit for three consecutive months. The profit structure also experienced continuous optimization.

The equipment manufacturing industry saw a 15.2% year-on-year increase in profit in May, maintaining double-digit growth for two consecutive months. Furthermore, “little giants,” specialized, and special new enterprises demonstrated higher operating income and profit growth compared to industrial enterprises above the designated size.

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These positive indicators indicate a steady recovery in China’s industrial economy, bolstering hopes of further growth in the coming months.

Editor: Zheng Jianlong

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