Value-added industrial output went up by 5.9 per cent year on year (YoY) during January and February—up by 0.1 percentage points from the full-year growth rate of 2024.
The value-added of the manufacturing sector increased by 6.9 per cent YoY during the period. In February alone, the industrial output grew by 0.51 per cent month on month.
"Amid the accelerating integration of technological and industrial innovation, cutting-edge technologies such as information technology and artificial intelligence are increasingly driving industrial transformation, becoming new growth drivers for industrial development," NBS spokesperson Fu Linghui told a press conference.
The country’s new energy industries have experienced strong growth, with new energy vehicle production surging by 47.7 per cent YoY and lithium-ion power battery output for automobiles rising by 37.5 per cent from the previous year, Fu was cited as saying by a state-controlled media outlet.
The purchasing managers' index for the manufacturing sector was 50.2 in February—up by 1.1 percentage points from the previous month and surpassing the neutral 50 mark.
Despite steady industrial production growth, some enterprises are experiencing poor profitability due to structural imbalances in market supply and demand, Fu added.
ALCHEMPro News Desk (DS)
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