At present, China’s new industrialization is making solid progress, and a series of new industries, new drivers and new manufacturing continue to emerge, promoting the accelerated upgrading of the manufacturing industry and creating new advantages for high-quality economic development. On July 15, the economic operation released by the National Bureau of Statistics showed that in the first half of the year, the national industrial production above designated size continued to grow rapidly since the fourth quarter of 2023, industrial exports accelerated month by month, corporate profits maintained growth, the high-end, intelligent and green development of the manufacturing industry accelerated, and high-quality development continued to advance. Overall, the industrial economy has maintained a steady and good trend.

Since 2024, all regions and departments across the country have actively promoted new industrialization. Pan Helin, a member of the Information and Communication Economy Expert Committee of the Ministry of Industry and Information Technology, said that from the data of the first half of the year, it can be seen that the development of new quality productivity and new industrialization has been effective, whether it is the transformation and upgrading of traditional industries or the creation of new momentum, strategic emerging industries and the development of future industries, China’s manufacturing industry has handed over a good answer.

MVME51005E-0163 A spokesman for the National Bureau of Statistics told reporters that in the first half of the year, China’s manufacturing industry continued to strengthen the chain, innovative subjects continued to cultivate, and the resilience of the industrial chain was improved. By the end of June, the country has cultivated a total of more than 140,000 specialized new small and medium-sized enterprises, including 12,000 “small giant” enterprises.

The industrial economy is running steadily and improving

In the first half of the year, China’s macroeconomic policy effect continued to be released, external demand improved, accelerated development of new quality of productive forces and other factors formed new support, the national economy was on the whole stable and steady progress, both “quantity” growth, but also “quality” improvement, is a remarkable and fruitful achievement.

MVME51005E-0163

The macroeconomic operation of the first half of the year released by the National Bureau of Statistics shows that in the first half of the year, China’s industrial economy ran steadily and well, industrial production grew rapidly, industrial added value increased by 6.0%, driving economic growth of 1.9 percentage points. Tang Weiwei, director of the Industrial Statistics Department of the National Bureau of Statistics, said that the national industrial added value above designated size increased by 6.1% and 5.9% in the first and second quarters, respectively, continuing the rapid growth trend since the fourth quarter of 2023.

MVME51005E-0163 Pan and Lin said that from the perspective of specific industries, the second industry in China’s three major industries, that is, industry, has become the mainstay of economic growth, not only the total industrial output value has achieved rapid growth, but also the quality of the industrial industry has also taken a “qualitative” leap.

In the first half of this year, the added value of industrial enterprises above designated size increased by 6.0% year-on-year. Divided into three categories, the value added of mining increased by 2.4 percent, manufacturing by 6.5 percent, and electricity, heat, gas and water production and supply by 6.0 percent. The value added of the equipment manufacturing industry grew by 7.8% and that of high-tech manufacturing by 8.7%, 1.8 percentage points and 2.7 percentage points faster than that of all industries above designated size, respectively. By product, the output of 3D printing equipment, new energy vehicles, and integrated circuit products increased by 51.6%, 34.3%, and 28.9%, respectively.

In the second quarter, China’s industrial production continued to grow rapidly, industrial added value increased by 5.9%, driving economic growth of 1.8 percentage points. Meanwhile, in the first half of this year, the producer price index (PPI) fell by 2.1% year-on-year, and the purchasing price of industrial producers fell by 2.6% year-on-year.