On the 16th, the National Bureau of Statistics released economic data: The monthly industrial growth rate has decreased from an increase, but the trend of industrial upgrading has not changed.

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According to economic data released by the National Bureau of Statistics on the 16th, in April, the growth rate of added value of industries above designated size decreased by 2.9% year-on-year, the production index of the service industry decreased by 6.1%, and the total retail sales of consumer goods decreased by 11.1%. The national urban survey unemployment rate was 6.1%, an increase of 0.3 percentage points compared to the previous month.

On the 16th, the National Bureau of Statistics released economic data: The monthly industrial growth rate has decreased from an increase, but the trend of industrial upgrading has not changed.-Automatic dispensing machine | glue filling machine | screw machine | soldering machine | automation equipment wholesale - Hongzhan automation

The decrease in the growth rate of the manufacturing industry is mainly influenced by the equipment manufacturing industry such as automobiles, “Fu Linghui said. In April, the added value of the automobile manufacturing industry decreased by 31.8% year-on-year. From a regional perspective, due to the impact of the epidemic, the added value of industries above designated size in the Yangtze River Delta region has decreased by 14.1%, while in the Northeast region, the industry has decreased by 16.9%, mainly due to the shutdown and production stoppage of some enterprises affected by the epidemic.

From the perspective of the scale model, the impact of the epidemic on small and micro enterprises is more pronounced. Tang Weiwei, Deputy Director of the Industry Department of the National Bureau of Statistics, introduced that in April, the added value of small and micro industrial enterprises above designated size decreased by 3.4% year-on-year, a decrease of 9.1 percentage points compared to the previous month. The rate of decline and the extent of decline were 0.7 and 1.7 percentage points higher for larger and medium-sized enterprises, respectively.

Although monthly industrial production has shifted from an increase to a decrease, some industrial industries have maintained growth, demonstrating strong resilience.

Meanwhile, from a month on month perspective, in April, the added value of industries above designated size decreased by 7.08% compared to the previous month.
In terms of industries, in April, 18 out of 41 major industries maintained year-on-year growth in added value, while the automotive manufacturing industry decreased by 31.8%, and the computer, communication, and other electronic equipment manufacturing industry increased by 4.9%.

From a product perspective, in April, 169 out of 617 products saw a year-on-year increase in production. Among them, the output of integrated circuits was 25.9 billion pieces, a year-on-year decrease of 12.1%; The production of smartphones reached 96.14 million units, a year-on-year decrease of 3.8%; The overall production of automobiles was 1.282 million, a year-on-year decrease of 43.5%, but among them, the production of new energy vehicles was 330000, a year-on-year increase of 42.2%.

Fu Linghui, spokesperson for the National Bureau of Statistics and Director of the Department of Comprehensive Statistics of the National Economy, analyzed that currently, industrial production is indeed facing certain pressures, mainly manifested in insufficient market demand, a decline in the level of production and sales linkage, some blockages in the industrial chain supply chain, poor production cycle, rising production costs, and declining profitability. However, despite these difficulties, the characteristics of China’s complete industrial system and strong supporting capabilities have not changed. Overall, the added value of industries above designated size increased by 4% from January to April.

Basic industries such as energy have maintained growth. In April, the added value of coal mining and washing industry increased by 13.2% year-on-year, while the added value of oil and natural gas mining industry increased by 7.2%, effectively ensuring the normal operation of production and living order.

The basic consumer goods industry related to residents’ lives has maintained growth. In April, the added value of food manufacturing, alcoholic beverages, and refined tea manufacturing increased by 0.1% and 0.5% year-on-year, respectively. The production of fresh and refrigerated meat and frozen food increased by 20.4% and 9.3% respectively.

The high-tech manufacturing industry continues to grow. In April, the added value of high-tech manufacturing increased by 4% year-on-year, among which the electronic communication equipment manufacturing industry increased by 9.7%. The trend of industrial upgrading has not changed, indicating that the long-term positive trend of economic development has not changed

From a regional perspective, the impact of the epidemic on the central and western regions is relatively small, and industrial production continues to maintain growth. In April, the added value of industries above designated size in the central and western regions increased by 4.6% and 5.6% year-on-year, respectively.

At present, industrial production is indeed facing certain pressures, mainly manifested in insufficient market demand, declining level of production and sales linkage, some blockages in the industrial chain supply chain, poor production circulation, rising production costs, and declining profitability. Fu Linghui said that despite the difficulties, the characteristics of China’s complete industrial system and strong supporting capacity have not changed. In the next stage, as the epidemic is brought under control, transportation and logistics are gradually connected, and the production cycle is improved. Especially, the policies of reducing taxes and fees, and assisting enterprises in poverty alleviation continue to be implemented, which will help boost corporate confidence, improve business operations, and promote the sustained recovery of industrial production.

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