November Industrial Output Grows 5.4%, Hits Record High

According to data released by the National Bureau of Statistics on December 16, the value-added industrial output for large enterprises in November increased by 5.4% year-on-year (adjusted for inflation). Specifically, the output of the oil and natural gas extraction industry grew by 5.3%, while the chemical raw materials and chemical products manufacturing industry saw a robust increase of 9.5%.

From January to November, the cumulative value-added industrial output grew by 5.8% year-on-year. In this period, the oil and natural gas extraction industry expanded by 3.3%, and the chemical raw materials and chemical products manufacturing industry grew by 8.9%.

Key Industry Sectors in November:

• Mining: +4.2%
• Manufacturing: +6.0%
• Electricity, Heating, Gas, and Water Supply: +1.6%
• State-Owned Enterprises: +3.9%
• Joint-Stock Enterprises: +6.0%
• Foreign-Invested Enterprises: +3.4%
• Private Enterprises: +4.5%

By Economic Type:

Industry Highlights:

Among the 41 major industries, 34 recorded growth. Key figures include:

• Coal Mining and Washing: +3.7%
• Oil and Natural Gas Extraction: +5.3%
• Chemical Raw Materials and Products: +9.5%
• Textile Industry: +5.4%
• Automobile Manufacturing: +12.0%
• Computer, Communications, and Electronics: +9.3%

Product Performance:

Of the 619 major products, 374 reported growth. Notable figures include:

• Steel: 118.81 million tons (+5.1%)
• Cement: 169.34 million tons (-10.7%)
• Automobiles: 3.448 million units (+15.2%)Power Generation: 749.5 billion kWh (+0.9%)
• New Energy Vehicles: 1.574 million units (+51.1%)

In November, the product sales rate of large industrial enterprises was 97.1%, a decrease of 0.4 percentage points year-on-year. Export delivery value increased to ¥1.3556 trillion, reflecting a nominal growth of 7.4%.