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China's industrial production sees steady, robust growth in Jan, Feb: NBS spokesman

China

China's industrial production sees steady, robust growth in Jan, Feb: NBS spokesman
China

China

China's industrial production sees steady, robust growth in Jan, Feb: NBS spokesman

2025-03-17 17:14 Last Updated At:17:47

The rapid expansion of equipment manufacturing and high-tech manufacturing, coupled with the progress of new drivers for industrial development, has facilitated the steady and robust growth of China's overall industrial production, according to a spokesman for the National Bureau of Statistics (NBS).

Speaking at a press conference held in Beijing on Monday, Fu Linghui, the NBS spokesman, provided an overview of the country's industrial development across various sectors from multiple aspects including value added of industry, high-end manufacturing, new energy industry, and enterprise expectations.

Industrial production has continued to expand. Local governments across the country have intensified their efforts to support industrial production and enhance resource supply, thereby creating favorable conditions for sustained industrial growth, as noted by Fu.

"In the first two months [of 2025], the total value added of industrial enterprises above the designated size grew by 5.9 percent year on year, 0.1 percentage points higher than the previous year. The manufacturing sector rose by 6.9 percent, significantly outpacing the growth rate of the whole. Among them, the equipment manufacturing industry expanded by 10.6 percent, representing a 2.9-percentage-point increase over the previous year, providing substantial support for the steady and rapid growth of industrial production," said Fu.

Despite the relatively high growth rate of industrial output during the January-February period of 2024, China has achieved remarkable progress in the first two months of this year, underscoring the resilience of its industrial sector, according to Fu.

"The trend toward the industry' high-end and intelligent development is evident. In the context of accelerating integration of scientific and technological innovation and industrial innovation, cutting-edge technologies such as information technology and artificial intelligence (AI) are driving greater industrial transformation and increasingly serving as a new engine for industrial development. In the first two months, the value added of high-tech manufacturing increased by 9.1 percent year on year, which is 0.2 percentage points higher than last year," he said.

In breakdown, the output of industrial robots and integrated circuit chips rose by 27 percent and 19.6 percent, respectively, during the January-February period.

The large-scale application of domestic AI-based general-purpose large language models in key industrial sectors such as electronics and automobiles has accelerated, empowering industrial innovation and development. The growing demand for computing power has also fueled the rapid growth of related industries.

In the first two months, the value added of the digital product manufacturing industry increased by 9.1 percent year on year, while the output of servers surged by 73 percent, according to the spokesman.

Furthermore, the new energy industry is experiencing robust growth, with increasing utilization of green energy effectively promoting the green and low-carbon transformation of the economy, said Fu.

Additionally, breakthroughs in technologies such as AI, driven by positive and promising macroeconomic policies, have improved enterprise expectations as well.

"From January to February, the output of new energy vehicles and automotive lithium-ion power batteries increased by 47.7 percent and 37.5 percent, respectively, continuing to keep high growth rates. And both wind and solar power generation from industrial enterprises above the designated size have sustained double-digit growth. The purchasing managers' index (PMI) for the manufacturing sector reached 50.2 in February, up 1.1 percentage points from January, while new orders in the manufacturing sector stood at 51.1 percent in February, rising 1.9 percentage points from the previous month," said the spokesman.

China's industrial production sees steady, robust growth in Jan, Feb: NBS spokesman

China's industrial production sees steady, robust growth in Jan, Feb: NBS spokesman

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China adopts slate of measures to foster more open, investment-friendly economy

2025-03-18 17:18 Last Updated At:17:37

China has reaffirmed its commitment to fostering a more open and investment-friendly economy with the release of the 2025 Action Plan for Stabilizing and Promoting Foreign Investment.

Under the action plan, the country will intensify efforts to strengthen the role of national economic and technological development zones, optimize national service industry pilot programs, and promote various platforms for opening up to attract more foreign investment.

An official from the Ministry of Commerce (MOC) said that China will optimize its 232 national economic and technological development zones, which, despite covering less than 0.3 percent of the country's land area, contribute 10 percent of its GDP and over one-fifth of paid-in foreign investment.

Additionally, China will enhance national service industry pilot demonstrations and implement upgrading strategies for free trade zones to attract more foreign investment. In 2024, the 11 provinces and cities participating in service sector opening-up initiatives attracted 41.3 billion U.S. dollars in foreign investment, accounting for 50.2 percent of the sector's total.

The National Development and Reform Commission (NDRC) also emphasized efforts to attract foreign investment in key sectors, including advanced manufacturing, high-tech industries, and energy conservation.

Later this year, China will release an updated national catalog on encouraging foreign investment and expanding opportunities in central and western regions, particularly in basic manufacturing, applied technology, and consumer goods.

China reaffirmed these commitments in the recently released action plan and during this year's "two sessions".

Recent surveys also confirm this positive trend. According to a poll by the Japanese Chamber of Commerce and Industry in China released in February this year, 58 percent of its member companies plan to increase or maintain their investment in China this year. Meanwhile, a report from the American Chamber of Commerce in China indicates that 53 percent of surveyed U.S. companies plan to expand their investment in China in 2025.

China adopts slate of measures to foster more open, investment-friendly economy

China adopts slate of measures to foster more open, investment-friendly economy

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