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China's industrial output up 3.4% in first half

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The mining sector saw the fastest growth in output, up 9.5% year-on-year in the first half of the year.

China's industrial output up 3.4% in first half

In the first half of 2022, China's industrial value-added, an important economic indicator, rose 3.4% year-on-year, according to data released on Friday by the National Bureau of Statistics of the PRC.

According to the agency, in June this year, this figure increased by 3.9% in annual terms. Its growth rate was 3.2 p.p. higher than in May this year.

The June figure provided a 0.7 percent average increase in the second quarter. In April, the indicator decreased by 2.9%, and in May, on the contrary, it increased by 0.7%.

In the first half of the year, the output of joint-stock enterprises increased by 4.8% year on year. In terms of growth rates, enterprises of this category were in the lead among all other enterprises. Behind them are private sector enterprises and state holding companies.

The mining sector saw the fastest growth in output, up 9.5% year-on-year in the first half of the year.

According to the GSO, the output of the high-tech manufacturing sector grew by 9.6% year on year.

In terms of products, the production of cars powered by new energy sources, solar panels and mobile communication base stations increased by 111.2%, 31.8% and 19.8% respectively. on an annual basis.

The data also show that China's gross domestic product (GDP) increased by 2.5% year-on-year in the first half of 2022, and grew by 0.4% in the second quarter.

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