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Home > News > Valuable News > In the third quarter, the overall level of manufacturing industry improved

In the third quarter, the overall level of manufacturing industry improved

ECHEMI 2019-12-02

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Not long ago, 31 provinces published economic growth data in the first three quarters of this year. A report card of economic development of all regions shows the new changes of China's economy. In terms of economic aggregate, Guangdong and Jiangsu took the lead in breaking through 7 trillion yuan in the first three quarters, with 25 provinces' GDP exceeding 1 trillion yuan. In terms of economic growth, the western provinces are still relatively fast, with the growth rates of Sichuan, Yunnan and Guizhou all remaining above 7%, and 17 provinces are higher than the national average. It can be found from the data that the trend of economic transformation and upgrading is becoming more and more obvious around the main line of supply side structural reform. In the first three quarters, Guangdong's advanced manufacturing industry grew by 5% year on year, 0.5% faster than the average industrial growth rate, accounting for 55.9% of the industry. In the first three quarters of Jiangsu Province, more than 17000 high-tech enterprise applications were accepted, with a year-on-year growth of nearly 60%, a record high. He Yu, deputy director of the regional modernization strategy research center of Jiangsu Academy of Social Sciences: the high-tech enterprises are showing a trend of explosive growth, which I think is the foundation of Jiangsu structural adjustment. In the first three quarters, the transformation of new and old kinetic energy in Shandong accelerated, and the high-tech manufacturing industries such as electronic and communication system equipment grew by more than 10%, the service industry accounted for 50.8% of the economy, and the contribution rate to GDP growth reached 77.0%. In the central region, the industrial transformation and upgrading effect of Anhui, Hubei and other provinces is also further apparent. Zhao Jinbao, deputy director of Anhui Provincial Bureau of Statistics: the outstanding performance is that the contribution of the new economy to economic growth is increasing, new products are growing substantially, and industrial benefits are improving. In the economic data of the first three quarters, another significant change is that the growth rate of energy consumption is significantly lower than the economic growth rate. The 4.4% increase in electricity consumption in China supported 6.2% of GDP growth, compared with 6.7% growth in GDP and 8.9% growth in electricity consumption in the same period last year. In Hebei Province, the traditional high energy consumption province, the energy consumption per unit of industry decreased by 5.59% year-on-year, more than double the decrease of energy consumption per unit of GDP in China. Wang Shuguang, director of Comprehensive Department of Hebei Provincial Bureau of Statistics: comprehensively implement clean transformation, at the same time, reduce energy consumption from the source, and support high-quality development with green and high-quality increment. In the first three quarters of the country, the proportion of clean energy consumption such as hydropower and wind power in the total energy consumption increased by 1.2 percentage points over last year.

Disclaimer: ECHEMI reserves the right of final explanation and revision for all the information.

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