China's Industrial Production Grew Fast in November
According to the National Bureau of Statistics, in November, the total value added of the industrial enterprises above the designated size grew by 7.0% year on year, 0.1 percentage point faster than October, or up by 1.03% month on month. In the first eleven months, the total value added of the industrial enterprises above the designated size grew by 2.3% year on year, 0.5 percentage points faster compared with that of the first ten months. In terms of sectors, in November, the value added of the mining went up by 2.0% year on year, 1.5 percentage points slower than that of October. The manufacturing went up by 7.7%, 0.2 percentage points faster compared with that of October. The production and supply of electricity, thermal power, gas and water went up by 5.4%, 1.4 percentage points faster than that of October. In terms of types of ownership, in November, the added value of state holding enterprises went up by 5.9% year on year, share holding enterprises up by 6.8%; enterprises funded by foreign investors or investors from Hong Kong, Macao and Taiwan up by 8.3%; and private enterprises up by 6.8%. In terms of industries, in November, 34 of the 41 major industries maintained year-on-year growth in total value added. The total value added of agricultural and sideline food processing industry went up by 2.9%, the textile industry up by 6.5%, the chemical raw materials and chemical products manufacturing up by 9.2%, non-metallic mineral products up by 7.7%, the ferrous metal smelting and rolling processing industry up by 9.6%, non-ferrous metal smelting and rolling processing industry up by 4.0%, general equipment manufacturing up by 10.2%, special equipment manufacturing up by 10.5%, automobile manufacturing up by 11.1%, railway, ship, aerospace and other transportation equipment manufacturing industry up by 2.6%, electrical machinery and equipment manufacturing industry up by 18.0%, the computer, communications and other electronic equipment manufacturing industry up by 9.3%, and the production and supply of electricity, heat and electricity up by 5.1%. The industrial recovery and rapid growth indicate that the productive end of China's economy is recovering well. The recovery and rapid growth of industry indicate that the recovery of the production of China’s economy is relatively satisfactory.