According to data released by the National Bureau of Statistics of China on the 10th, the value-added factor of industrial value added above the designated size in the country increased by 10% year-on-year in November, and the growth rate was 0.3 percentage points lower than that in October. From January to November, the added value of industrial enterprises above designated size increased by 9.7% year-on-year.
Niu Li, director of the Macroeconomic Research Office of the Economic Forecasting Department of the National Information Center, told reporters that the slowdown in industrial growth in November was mainly due to the high base of the same period last year, not the economic fundamentals.
Niu Li pointed out that in terms of its individual forecasts, it was originally expected that the growth rate in October could fall below double digits, but benefited from a series of steady growth, structural adjustments, reforms, and people's livelihood comprehensive measures introduced this year. The data is still remarkable; it is worth noting that, due to the base number, it is expected that the growth rate of industrial added value in December will further slow down to 9.7%.
As far as the data for the day is concerned, the specific sub-sectors see, in November, the value added of 39 industries in 41 major categories of industries maintained a year-on-year increase. Among them, the automobile manufacturing industry increased by 20.3%, and the electrical machinery and equipment manufacturing industry increased by 12.8%.
In terms of economic types, in November, the added value of state-owned and state-controlled enterprises increased by 9.1% year-on-year, that of collective enterprises increased by 2.4%, that of joint-stock companies increased by 11.1%, and that of foreign-invested companies and Hong Kong, Malay, and Taiwanese companies increased by 9.5%.
From a regional perspective, in November, the value added in the eastern region increased by 9.2% year-on-year, the central region increased by 11.6%, and the western region increased by 10%.
From a product perspective, in November, 307 products out of 464 products increased year-on-year. Among them, the generating capacity was 439.2 billion kWh, an increase of 6.8% year-on-year; the steel 90.32 million tons, an increase of 10.0%; the autos 2.284 million, an increase of 25.6%; the sedan 1.271 million, an increase of 19.9%; the crude oil processing volume 40.17 million tons, a decrease of 0.6 %.
Niu Li, director of the Macroeconomic Research Office of the Economic Forecasting Department of the National Information Center, told reporters that the slowdown in industrial growth in November was mainly due to the high base of the same period last year, not the economic fundamentals.
Niu Li pointed out that in terms of its individual forecasts, it was originally expected that the growth rate in October could fall below double digits, but benefited from a series of steady growth, structural adjustments, reforms, and people's livelihood comprehensive measures introduced this year. The data is still remarkable; it is worth noting that, due to the base number, it is expected that the growth rate of industrial added value in December will further slow down to 9.7%.
As far as the data for the day is concerned, the specific sub-sectors see, in November, the value added of 39 industries in 41 major categories of industries maintained a year-on-year increase. Among them, the automobile manufacturing industry increased by 20.3%, and the electrical machinery and equipment manufacturing industry increased by 12.8%.
In terms of economic types, in November, the added value of state-owned and state-controlled enterprises increased by 9.1% year-on-year, that of collective enterprises increased by 2.4%, that of joint-stock companies increased by 11.1%, and that of foreign-invested companies and Hong Kong, Malay, and Taiwanese companies increased by 9.5%.
From a regional perspective, in November, the value added in the eastern region increased by 9.2% year-on-year, the central region increased by 11.6%, and the western region increased by 10%.
From a product perspective, in November, 307 products out of 464 products increased year-on-year. Among them, the generating capacity was 439.2 billion kWh, an increase of 6.8% year-on-year; the steel 90.32 million tons, an increase of 10.0%; the autos 2.284 million, an increase of 25.6%; the sedan 1.271 million, an increase of 19.9%; the crude oil processing volume 40.17 million tons, a decrease of 0.6 %.
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