China's value-added industrial output surges 3.5% YoY in May 2023: NBS

When viewed in the context of the period from January to May, the country's industrial output exhibited a 3.6 per cent YoY uptick.

The value-added industrial output metric applies to those enterprises that annually generate at least 20 million yuan, equivalent to approximately $2.8 million, in main business turnover.

China established a projected growth target of approximately 5 per cent for 2023. Meanwhile, the country's economy has already recorded an expansion of 4.5 per cent in the first quarter, providing a robust foundation for meeting the annual target, said Chinese media reports quoting Government Work Report issued earlier this year.

ALCHEMPro News Desk (DP)