China's economy recovers better than expected in Jan-Feb 2022

The trade balance was 738.8 billion yuan in surplus, according to the National Bureau of Statistics.

Import and export of general trade increased by 16.3 per cent during the duratioon, accounting for 63.5 per cent of the total value of the imports and exports, 1.6 percentage points higher than the same period of the previous year.

Import and export by private enterprises increased by 16.1 per cent, accounting for 48.2 per cent of the total value, 1.1 percentage points higher than the same period last year.

Industrial production accelerated during the two months, with high-tech manufacturing and equipment manufacturing registering sound growth momentum.

In the first two months of this year, China’s total value added of the industrial enterprises above the designated size grew by 7.5 per cent YoY, 3.2 percentage points higher compared with that of December 2021, or 1.4 percentage points higher than the average two-year growth rate of 2021.

The value added of manufacturing went up by 7.3 per cent YoY. The same of state holding enterprises during the two months was up by 5.9 per cent YoY; that of share-holding enterprises was up by 8.4 per cent YoY; that of enterprises funded by foreign investors or investors from Hong Kong, Macao and Taiwan was up by 4.2 per cent YoY; and that of private enterprises was up by 8.7 per cent YoY.

In February, the total value added of the industrial enterprises above the designated size went up by 0.34 per cent month on month (MoM). In the same month, the manufacturing purchasing managers’ index stood at 50.2 per cent, 0.1 percentage point higher than that of the previous month. The production and operation expectation Index was 58.7 per cent, 1.2 percentage points higher. 

ALCHEMPro News Desk (DS)