Amazing! Industrial Growth Highlights In July: An in-depth Analysis of the Top 10 Industries Behind the 5.1% Growth Rate

In July, industrial production rose 5.1 per cent year-on-year in real terms and 0.35 per cent month-on-month. By sector, oil and gas extraction increased by 5.7%, and chemical raw materials and chemical products manufacturing increased by 8.6%.

Across the three categories, mining added 4.6% year on year in July, manufacturing increased 5.3%, and electricity, heat, gas and water production and supply increased 4.0%.

In the subdivided industries, 33 of the 41 major categories of industries maintained year-on-year growth in added value in July. Among them, the coal mining and washing industry increased by 4.7%, the oil and natural gas mining industry increased by 5.7%, the agricultural and sideline food processing industry increased by 0.2%, the wine, beverage and refined tea manufacturing industry increased by 2.7%, the textile industry increased by 5.9%, the chemical raw materials and chemical products manufacturing industry increased by 8.6%, and the non-metallic mineral products industry decreased by 2.9%. Ferrous metal smelting and rolling industry decreased by 1.5%, non-ferrous metal smelting and rolling industry increased by 9.4%, general equipment manufacturing increased by 3.2%, special equipment manufacturing increased by 2.5%, automobile manufacturing increased by 4.4%, railway, ship, aerospace and other transportation equipment manufacturing increased by 12.7%, The manufacturing of electrical machinery and equipment increased by 2.8%, the manufacturing of computers, communications and other electronic equipment increased by 14.3%, and the production and supply of electricity and heat increased by 3.2%.

In terms of product output, 367 out of 619 products of industrial enterprises above designated size increased year-on-year in July. Specific data include steel production of 114.36 million tons, down 4.0%; Cement output was 153.68 million tons, down 12.4%. The output of ten non-ferrous metals was 6.56 million tons, an increase of 8.2%; Ethylene production was 2.77 million tons, an increase of 8.6%. The output of automobiles was 2.297 million, down 2.4%, among which the output of new energy vehicles was 988,000, up 27.8%; Electricity generation was 883.1 billion KWH, up 2.5%; Crude oil processing volume was 59.06 million tons, down 6.1 percent. In July, the sales rate of industrial enterprises above designated size was 97.2%, down 0.5 percentage points year on year. The value of export delivery was 1,278.5 billion yuan, a nominal increase of 6.4%.

From January to July, industrial output rose 5.9 per cent year on year. Among them, the oil and gas extraction industry increased by 2.8%, and the chemical raw materials and chemical products manufacturing increased by 10.2%. In July, the added value of industrial enterprises above designated size increased by 5.1 percent year-on-year, 0.2 percentage points lower than the previous month. It increased by 0.35% quarter-on-quarter.

Of the three categories, mining added 4.6 per cent, manufacturing 5.3 per cent and electricity, heat, gas and water production and supply 4.0 per cent. The added value of the equipment manufacturing industry increased by 7.3%, and that of the high-tech manufacturing industry increased by 10.0%, up 0.4 and 1.2 percentage points respectively from the previous month. In terms of economic type, the added value of state-owned holding enterprises increased by 3.5% year-on-year; Joint-stock enterprises increased by 5.4%, and foreign-invested enterprises and those invested by Hong Kong, Macao and Taiwan increased by 4.2%. The private sector grew by 5.2%. In terms of product output, the output of new energy vehicles, integrated circuits, and 3D printing equipment increased by 27.8%, 26.9%, and 25.3%, respectively.

From January to July, the value added of industrial enterprises above designated size increased by 5.9 percent year-on-year. In July, the manufacturing purchasing managers' index was 49.4%, and the expected index of enterprise production and operation activities was 53.1%. From January to June, the total profits of industrial enterprises above designated size reached 3,511 billion yuan, up 3.5 percent year on year. The import and export of goods showed rapid growth, and the trade structure continued to optimize.

In July, imports and exports of goods totaled 3,675.8 billion yuan, up 6.5 percent year on year and 0.7 percentage points faster than the previous month. Specifically, the export value was 2,138.9 billion yuan, up by 6.5%. The value of imports was 1,536.9 billion yuan, up by 6.6%. The trade surplus was 601.9 billion yuan.

From January to July, imports and exports of goods totaled 24,833.5 billion yuan, up 6.2 percent. Specifically, the export value was 14,257.3 billion yuan, up by 6.7%. The value of imports was 10,576.2 billion yuan, up by 5.4%. From January to July, general trade imports and exports increased by 4.9 percent, accounting for 64.7 percent of the total imports and exports. Imports and exports of private enterprises increased by 10.9%, accounting for 55.1% of the total imports and exports, an increase of 2.3 percentage points over the same period last year. Exports of mechanical and electrical products increased by 8.3%, accounting for 59.0% of total exports.

In July, producer prices fell 0.8% year-on-year and 0.2% month-on-month. The purchasing price of industrial producers in the country fell by 0.1% year-on-year and month-on-month. From January to July, producer prices and purchase prices fell by 2.0 percent and 2.2 percent year-on-year, respectively.