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Industrial production in China exceeded expectations

According to data released by the National Bureau of Statistics of China, value-added industrial production in China increased above expectations in August. An increase of 4.5 percent was recorded compared to the same period last year.

Industrial production in China exceeded expectations

According to August data, the mining sector grew by 2.3 percent, while the manufacturing sector experienced an increase of 5.4 percent. Electricity, heating, natural gas and water services increased by 0.2 percent.

When production data is analyzed on the basis of ownership, state-controlled enterprises increased by 5.2 percent, while joint-capital companies grew by 5.7 percent and the private sector by 3.4 percent.

When looked at on a product basis, solar cells production increased by 77.8 percent compared to the same period last year, while power units production increased by 32.4 percent.

Industrial production data is used to measure the activities of enterprises with a main business turnover of at least 20 million yuan (about 2.79 million US dollars). These results show that the Chinese economy is in a solid growth process.

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