China’s industrial output grows

BEIJING - China’s industrial production continued to expand in October, with the high-tech manufacturing sector posting robust performance, official data showed yesterday.

China’s value-added industrial output, an important economic indicator, went up 5% year-on-year in October, 0.2 percentage points higher than that of the third quarter, according to data from the National Bureau of Statistics.

Despite multiple challenges, such as a complex international situation and domestic Covid-19 resurgences, the Chinese economy has sustained a steady recovery trend in October as the country stepped up efforts to implement pro-growth policies, the bureau said.

The output of the mining industry increased 4% last month, while that of the manufacturing sector rose 5.2%, the data showed.

In particular, the high-tech manufacturing sector posted strong growth momentum, with its output jumping 10.6% last month, 1.3 percentage points higher than in September.

The output of auto manufacturing logged a sharp increase of 18.7% in October, while that of the electrical machinery and equipment manufacturing sector expanded 16.3% yearon-year.

In a breakdown by ownership, state-owned enterprises saw a 4.4% increase in output in October, while the private sector’s output grew 3.1%.

Noting that the international environment is becoming more complex and grave and domestic economic recovery is not yet solid, the bureau said more efforts are needed to seek the best growth results.

It added that China will work to expand effective demand, deepen supply-side structural reform, spur the vitality of market entities and further consolidate the recovery momentum.

The industrial output is used to measure the activity of large enterprises each with an annual main business turnover of at least 20 million yuan (about US$2.84 million).

In the first 10 months, China’s industrial output rose 4% year-on-year, 0.1 percentage points higher than in the first three quarters, the data showed.