China's Industrial Output Grows Steadily in November, Led by Chemicals and Energy

Recently, China's National Bureau of Statistics released data showing that in November, the value-added output of industrial enterprises above designated size rose by 4.8% year-on-year in real terms. Within this total, value-added in the petroleum and natural gas extraction sector increased by 5.1% year-on-year, while the chemical raw materials and chemical products manufacturing sector recorded growth of 6.7%.

From January to November, the value-added output of industrial enterprises above designated size expanded by 6.0% year-on-year. During this period, the petroleum and natural gas extraction sector grew by 4.2%, while the chemical raw materials and chemical products manufacturing sector increased by 7.8%.

By major industrial category, mining output value rose by 6.3% year-on-year in November, manufacturing increased by 4.6%, and the electricity, heat, gas, and water production and supply sector grew by 4.3%.

By economic type, value-added output in November increased by 4.2% year-on-year for state-controlled enterprises, 5.2% for shareholding enterprises, 3.4% for foreign-funded and Hong Kong, Macao and Taiwan-funded enterprises, and 3.2% for private enterprises.

By industry, 30 of the 41 major industries recorded year-on-year growth in value-added output in November. Coal mining and washing rose by 7.5%, oil and natural gas extraction by 5.1%, and the processing of agricultural and sideline products by 1.7%. The manufacture of alcoholic beverages, beverages and refined tea declined by 0.6%, while textiles grew by 1.8%. Chemical raw materials and chemical products manufacturing increased by 6.7%, whereas non-metallic mineral products manufacturing fell by 1.8%. Ferrous metal smelting and rolling rose by 0.9%, non-ferrous metal smelting and rolling by 4.8%, general-purpose equipment manufacturing by 7.5%, and special-purpose equipment manufacturing by 4.8%. Motor vehicle manufacturing surged by 11.9%, as did railway, shipbuilding, aerospace and other transport equipment manufacturing. Electrical machinery and equipment manufacturing grew by 4.4%, computer, communications and other electronic equipment manufacturing rose by 9.2%, and electricity and heat production and supply increased by 4.2%.

By product category, output increased year-on-year for 310 of the 623 industrial products above designated size in November. Steel output reached 115.91 million tonnes, down 2.6% year-on-year, while cement output stood at 154.34 million tonnes, down 8.2%. Output of ten non-ferrous metals totalled 6.99 million tonnes, up 4.7%, and ethylene production amounted to 3.09 million tonnes, up 7.3%. Automobile production reached 3.519 million units, up 2.4%, including 1.841 million new energy vehicles, up 17.0%. Power generation totalled 779.2 billion kilowatt-hours, up 2.7%, and crude oil processing reached 60.83 million tonnes, rising by 3.9%.

In November, the product sales rate of industrial enterprises above designated size was 96.5%, down 0.8 percentage points year-on-year. Export delivery value reached 1.361 trillion yuan, representing a nominal year-on-year decrease of 0.1%.