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  HOME | Business & Economy (Click here for more)

China’s Industrial Output Grows 7%

SHANGHAI – China’s industrial output grew 7 percent in April compared to the same month last year, the National Bureau of Statistics said on Tuesday.

The growth, which was 1 percentage point more than the 6 percent recorded in March, beat market expectations, which were around 6.4 percent, according to NBS.

In the first four months of the year, industrial production rose 6.9 percent in comparison to the growth of 6.8 percent registered in the first quarter of 2018.

The breakdown of the April data showed that industrial structure continued to improve, with output in high-tech industries and the equipment manufacturing sector expanding 11.8 percent and 10.3 percent, respectively.

Growth of 82.2 percent was registered in the output of new energy vehicles in line with government support for this sector as a way to reduce pollution in the country.

Industrial output, officially known as the industry value added, is used to measure the activity of designated large enterprises which have an annual turnover of at least 20 million yuan (around $3 million).

 

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