In November, China's industrial added value above designated size increased by 4.8% year-on-year, crude steel production declined again, new energy vehicles grew by 17%, and high-tech manufacturing experienced rapid growth

On Monday, December 15, the National Bureau of Statistics released the latest data, showing that from January to November, the value added of industrial enterprises above designated size increased by 6.0% year-on-year. In November, the value added of industrial enterprises above designated size increased by 4.8% year-on-year (the growth rates of value added are the actual growth rates after excluding price factors). Month-on-month, in November, the value added of industrial enterprises above designated size grew by 0.44% compared to the previous month. The National Bureau of Statistics interpreted the latest data as follows: Industrial production is steadily growing, with rapid growth in equipment manufacturing and high-tech manufacturing. In November, the value added of equipment manufacturing increased by 7.7% year-on-year, and the value added of high-tech manufacturing grew by 8.4%, which is 2.9 and 3.6 percentage points faster than the overall value added of industrial enterprises above designated size, respectively. In addition, the growth rate of steel and cement production has declined. In November, crude steel production decreased by 10.9% year-on-year to 69.87 million tons, and the cumulative production from January to November fell by 4% compared to the same period last year. Currently, crude steel production has declined for six consecutive months. Cement production also saw a decline, with November cement production at 15.434 million tons, down 8.2%. Decline in the growth rate of steel and cement production, rapid growth in equipment manufacturing and high-tech manufacturing, and a 17% increase in new energy vehicles Looking at the three major categories, in November, the value added of the mining industry increased by 6.3%, manufacturing grew by 4.6%, and the production and supply of electricity, heat, gas, and water increased by 4.3%. By economic type, in November, the value added of state-controlled enterprises increased by 4.2% year-on-year; joint-stock enterprises grew by 5.2%, foreign and Hong Kong, Macao, and Taiwan-invested enterprises increased by 3.4%; and private enterprises grew by 3.2%. By industry, in November, among the 41 major industries, 30 industries saw year-on-year growth in value added. Among them, equipment manufacturing and high-tech manufacturing grew rapidly. Among them, the coal mining and washing industry grew by 7.5%, the oil and gas extraction industry grew by 5.1%, the processing of agricultural and sideline products grew by 1.7%, the wine, beverage, and refined tea manufacturing industry decreased by 0.6%, the textile industry grew by 1.8%, the chemical raw materials and chemical products manufacturing industry grew by 6.7%, the non-metallic mineral products industry decreased by 1.8%, the black metal smelting and rolling processing industry grew by 0.9%, the non-ferrous metal smelting and rolling processing industry grew by 4.8%, the general equipment manufacturing industry grew by 7.5%, the special equipment manufacturing industry grew by 4.8%, the automobile manufacturing industry grew by 11.9%, the manufacturing of railway, ship, aerospace, and other transportation equipment grew by 11.9%, the electrical machinery and equipment manufacturing industry grew by 4.4%, and the manufacturing of computers, communications, and other electronic equipment grew by 9.2%, while the production and supply of electricity and heat grew by 4.2%. By product, in November, among the 623 products of industrial enterprises above designated size, 310 products saw year-on-year growth in output. Among them, steel was 115.91 million tons, a year-on-year decrease of 2.6%; cement was 154.34 million tons, a decrease of 8.2%; ten kinds of non-ferrous metals were 6.99 million tons, an increase of 4.7%; ethylene was 3.09 million tons, an increase of 7.3%; automobiles were 3.519 million units, an increase of 2.4%, among which new energy vehicles were 1.841 million units, an increase of 17.0%; power generation was 779.2 billion kWh, an increase of 2.7%; crude oil processing volume was 60.83 million tons, an increase of 3.9%. In November, the product sales rate of industrial enterprises above designated size was 96.5%, a year-on-year decrease of 0.8 percentage points; the export delivery value of industrial enterprises above designated size was 1.361 trillion yuan, a nominal year-on-year decrease of 0.1%.