From January to May 2019

From January to May 2019, the added value of industries above designated size increased by 6% year-on-year in real terms, among which, the value added of industries above designated size increased by 5% in May.Main features of industrial production:

First, industrial production is generally within a reasonable range.From January to may, industrial production grew by 6%, down 0.2 percentage points from January to April, and up 0.3 percentage points from the fourth quarter of last year.Industrial production growth in May fell 0.4 percentage points from the previous month, driven by a year-on-year decrease in working days and a slowdown in export delivery value.

Second, more than half of the industry growth accelerated.In may, the growth rate of added value in 22 of the 41 major industries accelerated from the previous month.Among them, instruments, special equipment, railway ships and aerospace equipment, electrical machinery, rubber and plastic products, textiles and other industries rebound quickly.

Third, the growth of industrial products expanded.In may, 325 of the 605 major industrial products recorded year-on-year growth, which was 4.4 percentage points higher than the previous month.Among them, railway passenger cars, urban rail vehicles, new energy vehicles, large tractors, cranes, rare earth metals, ethylene, steel, washing machines, composite audio and other major products maintained double-digit growth.

Fourth, high-tech industries are growing fast.In may, the added value of high-tech manufacturing rose 9.4 percent year-on-year, 4.4 percentage points higher than that of all industries above the designated size.The proportion of industries above scale was 13.8%, up 0.8 percentage points year-on-year.Among them, the medical equipment and instrument manufacturing industry grew by 10.9%, 1.7 percentage points faster than the previous month.The aerospace, spacecraft and equipment manufacturing sector grew by 10.2 percent, up 1.8 percentage points.

Fifth, the rapid growth of new products.In may, the output of new industrial products with higher technological content and higher added value maintained rapid growth.Among them, the output of 3D printing equipment, service robots, balance vehicles, urban rail vehicles, new energy vehicles and other products grew rapidly, with year-on-year growth of 266.1%, 94.8%, 67.9%, 28.1% and 16% respectively.

At present, although industrial production is operating within a reasonable range on the whole, the export growth of industrial products is slowing down, and some major industries and products such as automobiles and mobile phones are declining or growing at a low speed due to the impact of the escalation of economic and trade frictions between China and the United States and the lowering of market expectations.

Post time: Jun-21-2019
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