China's industrial production up 6.5% in the first quarter of 2022
China's industrial production posted strong growth in the first quarter of this year, with high-tech manufacturing performing brilliantly, according to data released by the National Bureau of Statistics (GSO) on Monday.
In the first quarter of 2022, China's industrial value added, an important economic indicator, rose 6.5% year on year, according to GSM data.
Only in March this year, this figure rose by 5% year on year and 0.39% month on month.
From January to March this year, the value-added in the mining industry grew by 10.7% year on year, showing the fastest growth among the top three industrial sectors.
In the first three months of 2022, the value added in the manufacturing industry of the country increased by 6.2% in annual terms, and in the sector of production and supply of electricity, heat, gas and water increased by 6.1% compared to the same period last year.
The high-tech manufacturing and equipment manufacturing industry recorded a significant increase in value added. The figures increased respectively by 14.2% and 8.1% year on year.
New energy vehicle production jumped 140.8% year-on-year, while solar panels and industrial robots rose 24.3% and 10.2%, respectively, year-on-year.
For the first quarter of 2022, the value added of the country's private enterprises increased by 7.6% year on year, while the value added of state holding enterprises increased by 5% compared to the same period last year.
Industrial production is used to measure the activity of large enterprises whose annual business income is 20 million yuan (about 3.11 million US dollars) or more.
China's gross domestic product rose 4.8% year-on-year in the first three months of this year, according to China's GDP data released on Monday.