Value-added industrial output in China rises by 3.7% YoY in Jul 2023

18 Aug '23

1 min read

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Insights

China's value-added industrial output rose by 3.7 per cent year on year (YoY) in July, official data showed.
It rose by 3.8 per cent YoY between January and July.
The manufacturing sector expanded by 3.9 per cent in July.
Industrial production saw a steady recovery in the first seven months, with the raw material sector posting a relatively fast expansion.

China's value-added industrial output rose by 3.7 per cent year on year (YoY) in July this year, according to data from the National Bureau of Statistics (NBS). It rose by 3.8 per cent YoY year on year between January and July.

The country’s industrial production witnessed a steady recovery in the first seven months this year, with the raw material sector posting a relatively fast expansion, NBS spokesperson Fu Linghui told a recent press conference.

The manufacturing sector expanded by 3.9 per cent in July, while the production and supply of electricity, heat, gas and water rose by 4.1 per cent, a state-controlled news agency reported.

Output of the raw material sector climbed by 8.8 per cent YoY in July—2 percentage points higher than the growth rate a month earlier.

The output of state-controlled companies, joint-equity firms and private enterprises went up by 3.4 per cent, 5 per cent and 2.5 per cent YoY in July respectively.

Industrial output is used to measure the activity of enterprises with an annual main business turnover of at least $2.79 million each.

ALCHEMPro News Desk (DS)

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