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China's industrial production in January-February 2021 grew by 35.1%

Asia / Business and Finance

The fastest growing were the revenues of companies engaged in the extraction of minerals, the production and supply of electricity, heat, gas and water.

China's industrial production in January-February 2021 grew by 35.1%

China's industrial value added, an important economic indicator, rose 35.1% year-on-year in the first two months of 2021, data from the State Statistical Office (CSO) of China showed on Monday.

According to the ministry, the growth rate of the indicator was 16.9% higher than in the same period in 2019. At the same time, the average annual growth rate of the indicator over the past two years amounted to 8.1%.

China's industrial production increased 0.69% month-on-month in February.

Manufacturing, or industrial value added, is used to measure the activity of large enterprises with annual revenues in excess of RMB 20 million (about US $ 3.08 million) each.

During this period, industrial production of state-owned enterprises grew by 23% year-on-year, joint-stock enterprises - by 34.2%, and enterprises with foreign capital - by 41.4%.

Manufacturing production in the first two months of 2021 grew by 39.5% year on year, which is the fastest indicator among the three main sectors, which also include mining, production and supply of electricity, heat, gas and water.

During the reporting period, the volume of production in high-tech industries increased by 49.2%.

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