On April 18, at the press conference held by The State Council Information Office, Shan Zhongde, Vice Minister of the Ministry of Industry and Information Technology, revealed that the industrial added value above designated size in the first quarter increased by 6.1% year-on-year, the highest value since eight quarters, and the industrial economy maintained rapid growth and generally achieved a good start.

Shan Zhongde introduced that major industrial provinces and key industries maintained stable growth. The industrial added value of 28 of the 31 provinces increased year-on-year, and the growth rate of nine major industrial provinces, including Jiangsu, Shandong, Zhejiang, Fujian and Hubei, was higher than the national average. Among the 50 major industrial cities, Shenzhen, Suzhou, Hefei, Nantong, Taizhou, Dongguan and PFSK162 other major industrial cities achieved double-digit growth, with major industrial provinces and major industrial cities playing a leading role. Key industries are performing steadily. Among the 41 industrial categories, the added value of 37 industries, such as electronics and automobiles, maintained year-on-year growth, expanding by 22 percentage points over last year. The equipment manufacturing industry maintained rapid growth. In the first quarter, the added value increased by 7.6% year-on-year, driving the growth of industries above designated size by 2.4 percentage points, and playing a role in supporting equipment and driving growth. Consumer goods manufacturing production improved significantly. In the first quarter, the value added increased by 4.2% year-on-year, reversing the downturn since April 2022. The raw material manufacturing industry maintained steady growth. In the first quarter, the added value increased by 7.5% year-on-year, and the growth rate of nonferrous metals and chemical industries exceeded the overall industrial level.

PFSK162

Meanwhile, high-tech manufacturing and emerging industries have maintained rapid growth. High-tech manufacturing production has picked up markedly. In the first quarter, the added value of high-tech manufacturing increased by 7.5% year-on-year, 2.6 percentage points faster than the fourth quarter of last year. Typical products of emerging industries maintained a relatively high growth rate. Solar cells grew 20.1%; The growth rate of polysilicon and monocrystalline silicon related to photovoltaic is more than 50%; In the first quarter, the production and sales of new energy vehicles increased by 28.2% and 31.8% respectively. At the same time, the Ministry of Industry and Information Technology jointly issued the “Implementation Opinions on Promoting Future Industrial Innovation and Development” and “Guiding Opinions on the Innovation and Development of Humanoid Robots”, etc., to support enterprises to actively open up new fields and new tracks and accelerate the development of new quality productivity.

In addition, the positive factors for the recovery of the industrial economy continue to accumulate, and the industrial economy has large space for development, sufficient confidence and strong momentum. In the first quarter, manufacturing investment increased by 9.9% year on year, industrial export delivery value above designated size increased by 0.8% year on year, automobile sales increased by 10.6% year on year, household appliance consumption increased by 5.8% year on year, especially in the industrial field large-scale equipment renewal and consumer goods for new policies to accelerate the release of market space. The PFSK162 profits of industrial enterprises above designated size have continued to increase, and private investment in manufacturing has increased by 11.9% year-on-year. According to the survey of 36,000 key enterprises by the Ministry of Industry and Information Technology in the first quarter, 76% of enterprises expect their output value to grow or remain flat in the second quarter. As of the end of February, the number of industrial enterprises above designated size had increased by 19,000 over the end of the previous year, reaching 501,000. A total of 178 national high-tech zones have achieved good results in leading high-quality demonstrations, and 45 national advanced manufacturing clusters have become important forces leading the innovation and development of key industries and fields.

Shan Zhongde said that the Ministry of Industry and Information Technology will focus on implementing the requirements of high-quality development into the whole process of new industrialization, strengthening the deep integration of scientific and technological innovation and industrial innovation, developing high-tech, realizing industrialization, cultivating and developing new quality productivity, accelerating the construction of a modern industrial system supported by advanced manufacturing, insisting on quality first and efficiency first. We will take solid steps to ensure steady growth, change the growth model, increase growth momentum, and address risks, and consolidate and strengthen the momentum of recovery in the industrial economy.