China's Industrial Output Grows 5.8 Percent in May with Key Sectors Surging Over 10 Percent

On June 16, the National Bureau of Statistics released data showing that China's industrial output for enterprises above designated size increased by 5.8% year-on-year in May. Key sectors such as automobile manufacturing grew 11.6%, while railway, shipbuilding, aerospace, and other transportation equipment manufacturing surged by 14.6%.

From January to May, the cumulative industrial output rose 6.3% year-on-year, with oil and gas extraction up 3.7% and chemical manufacturing soaring by 8.3%.

In May, the mining industry grew 5.7%, manufacturing by 6.2%, and utilities such as electricity and water production increased by 2.2%. Among economic types, state-owned enterprises grew by 3.8%, while private enterprises and joint-stock companies recorded growth of 5.9% and 6.3%, respectively.

Out of 41 industrial categories, 35 reported growth. Notable increases include coal mining at 5.5%, chemical manufacturing at 5.9%, and non-ferrous metal processing at 8.1%, while cement production fell by 8.1%.

In terms of products, 326 out of 623 major industrial products saw increased output. Highlights include ethylene output rising by 14.4%, automobile production up 11.3%, and new energy vehicles (NEVs) climbing by 31.7%. Conversely, refined petroleum processing fell by 1.8%, and cement dropped by 8.1%.

The product sales rate for industrial enterprises was 95.9%, down 0.8 percentage points year-on-year, while export delivery value grew 0.6% nominally to 1.27 trillion yuan.