The Machinery Industry Continued To Grow In November

- Dec 17, 2020-

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Data released by the National Bureau of Statistics on 15th December showed that China's industrial production maintained a relatively fast growth and the equipment manufacturing and high-tech manufacturing sectors maintained a good growth momentum.In November, the value added of industries above designated size increased by 7.0 percent year-on-year, 0.1 percentage point faster than that of October.Month-on-month growth was 1.03 percent.From January to November, the value added of industrial enterprises above designated size increased by 2.3% year-on-year, 0.5 percentage points faster than that from January to October.

Xiang-dong liu, vice-minister of the China international economic and exchange center for economic research on the "securities daily" reporters that China's industrial production continued growth last month in November, various kinds of rendering speed recovery momentum and continue to speed up the manufacturing activity, automobile, electrical machinery and equipment manufacturing, computer communications, and other electronic equipment manufacturing industry is growing rapidly, means that digital intelligent production is growing rapidly, it reflects the epidemic prevention and control under the condition of normalized acceleration economic digital transformation, at the same time, private enterprises and foreign-invested enterprises confidence returns, the production and business operation gradually returned to normal situation, and accelerate the signs of positive development.

By economic type, the added value of state-owned enterprises increased by 5.9% year-on-year in November.Joint-stock enterprises increased by 6.8%, and foreign and Hong Kong, Macao and Taiwan enterprises by 8.3%.The private sector grew by 6.8%;In November, the value added of the mining industry grew by 2.0 percent year on year, 1.5 percentage points slower than that of October.Manufacturing grew by 7.7%, up 0.2 percentage points;Electricity, heat, gas and water production and supply grew 5.4%, up 1.4 percentage points.

Zhang Yqun, vice chairman of the Performance Management Committee of the Chinese Institute of Finance, told Securities Daily that the continuous improvement of industrial production data is mainly due to the proactive policies adopted by the state in fiscal, financial, industrial and logistics, which have greatly stimulated the internal potential and internal driving force of economic growth.At the same time, the rapid growth of the data of foreign investors and Chinese enterprises investing in Hong Kong, Macao and Taiwan indicates that China's degree of opening to the outside world is constantly expanding, the business environment is constantly improving, and the market capacity and ability to attract foreign capital are significantly enhanced.

By sector, in November, 34 of the 41 major industries maintained year-on-year growth in value added.6.5% grew 2.9% in the agricultural food processing industry, textile industry, chemical raw materials and chemical products manufacturing growth 9.2%, non-metallic mineral products increased by 7.7%, black metal smelting and rolling processing industry grows 9.6%, non-ferrous metal smelting and rolling processing industry grows 4.0%, general equipment manufacturing growth 10.2%, special equipment manufacturing growth 10.5%, automobile manufacturing growth 11.1%, railway, shipbuilding, aerospace and other transportation equipment manufacturing industry grows 2.6%, electrical machinery and equipment manufacturing industry growth of 18.0%,The manufacturing of computers, communications and other electronic equipment grew 9.3 percent, and the production and supply of electricity, heat and electricity grew 5.1 percent.

In accordance with the group, said zhang from November industrial production data, 41 kinds of industry, more than eighty percent of the value added of industry achieve year-on-year growth, suggests that China's economy has stabilised shows continuous positive, growth is quickening development momentum, the outbreak of the influence of our country's economy is rapidly reduced, main industrial indicators have reached or exceed the level before the outbreak, especially represented by automobile, electrical machinery of all kinds of manufacturing are present rapid rebound, effectively drive the return to growth in other related industry.

According to Zhang Yiqun, from the data of industrial production in the first 11 months, there is no doubt that China's economy will achieve positive growth in the whole year. It is expected to achieve a growth rate of around 2%, laying a foundation for the comprehensive economic recovery next year and achieving a good start in the 14th five-year Plan.