The recovery of major Chinese industrial enterprises gained momentum in November, driven by the implementation of government policies. The operating revenue in November shifted from a 0.2 per cent decline in October to a year-over-year increase of 0.5 per cent, reported state-owned Chinese media outlet citing NBS.
Additionally, November saw significant profit growth in high-end, intelligent, and green manufacturing sectors. Profits in optoelectronic device manufacturing and aerospace equipment manufacturing rose by 41.1 per cent and 14.3 per cent year-over-year, respectively. The wearable smart device industry achieved a 90.3 per cent profit increase, while the lithium-ion battery sector also recorded higher profits.
The industrial production in November showed steady growth due to the improvement in the execution of existing policies and additional measures, said Yu Weining, statistician at NBS.
Weining emphasised the need to focus on effective policy implementation, enhance development momentum, and support the steady recovery of the industrial economy in the next phase.
ALCHEMPro News Desk (SG)
Receive daily prices and market insights straight to your inbox. Subscribe to AlchemPro Weekly!
marketing@alchempro.com
