China’s industrial production is stabilizing and recovering – official

 

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China’s industrial output grew by 3.4% in the first half of the year from the same period in 2021, after slipping 2.9% in the first four months and grew by 0.7% in the first five months, indicating industrial production is stabilizing and recovering, said Tian Yulong, chief engineer and spokesperson of the Ministry of Industry and Information Technology, at a press briefing on Tuesday.

The share of output of China’s manufacturing sector in the country’s GDP increased significantly in the first half of the year, said Tian.

In the first six months, the manufacturing sector’s output grew by 2.8% from the same period last year, accounting for 28.8% of GDP, rising by 1.4 percentage points from the share in 2021, said Tian.

Chinese industrial companies’ exports, by value, grew by 10.8% year over year in the first half and manufacturing investment maintained a fast pace, up 10.4% from a year ago, he said.