China's industrial value added increased 5.3% year-on-year in August this year, data released Wednesday by the PRC's State Statistics Office showed.
According to the data, in August, value added in industry increased by 11.2% compared to the same period in 2019, as a result of which the average growth rate of this indicator over the same period of the last two years was 5.4%.
According to the results of the first eight months of this year, this indicator increased by 13.1% on an annualized basis, thus, the average growth rate of this indicator for the same period of the last two years was 6.6%.
Industrial output, or industrial value added, is used to measure the activity of large enterprises, each with annual revenues of at least 20 million RMB (about US $ 3.1 million).
