According to the latest data from the National Bureau of Statistics, industrial production rose 4.6 per cent in real terms in October from a year earlier (all growth rates are adjusted for real prices). From the month-on-month point of view, in October, the industrial added value above designated size increased by 0.39% over the previous month. From January to October, the added value of industrial enterprises above designated size increased by 4.1% year-on-year.

By industry, in October, 28 of 41 major industries maintained year-on-year growth in added value. The general equipment manufacturing industry decreased by 0.1%, the special equipment manufacturing industry increased by 2.7%, the automobile manufacturing industry increased by 10.8%, the railway, ship, aerospace and other transportation equipment manufacturing industry increased by 9.6%, the electrical machinery and equipment manufacturing industry increased by 9.8%, and the computer, communication and other electronic equipment manufacturing industry increased by 4.8%. Electricity and heat production and supply increased by 0.9%.

By product, in October, 371 products out of 620 products increased year-on-year. 11371 million tons of steel, an increase of 3.0%; 191.21 million tons of cement, down 4.0%; 10 kinds of non-ferrous metals 6.55 million tons, an increase of 8.2%; 2.82 million tons of ethylene, an increase of 5.6%; There were 2.779 million automobiles, an increase of 8.5%, of which 927,000 were new-energy vehicles, an increase of 27.9%.

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In addition, investment in high-tech industries has grown rapidly. From January to October, investment in high-tech industries grew by 11.1 percent year-on-year, with investment in high-tech manufacturing and services up 11.3 percent and 10.5 percent, respectively. In high-tech manufacturing, the investment in aviation, spacecraft and equipment manufacturing, medical equipment and instrumentation manufacturing increased by 19.0% and 16.7%, respectively. Among high-tech service industries, the investment in the transformation of scientific and technological achievements and the professional and technical services increased by 37.3 percent and 29.1 percent, respectively. Fixed-asset investment (excluding rural households) rose 0.10 per cent month-on-month in October.

It is worth mentioning that in October, the product sales rate of industrial enterprises was 97.4%, up 0.4 percentage points year-on-year; The export delivery value of industrial enterprises reached 1,294.1 billion yuan, down 0.5% year-on-year in nominal terms. In October, the manufacturing purchasing managers’ index was 49.5 percent, and the expected index of enterprise production and operation activities was 55.6 percent.

Liu Aihua, spokesman of the National Bureau of Statistics, chief economist and director of the Department of Comprehensive Statistics of the National economy, said that in October, the national economy continued to recover, the main indicators continued to improve, and the economic operation was generally stable. However, we must also see that there are still many external destabilizing factors and uncertainties, domestic demand is still insufficient, and the foundation for economic recovery needs to be consolidated. Going forward, we must adhere to the general principle of seeking progress while maintaining stability, firmly promote high-quality development, implement precise and effective macro-control, strive to expand domestic demand, boost confidence, guard against risks, continue to improve economic performance, continue to strengthen the internal driving force, continue to improve social expectations, continue to resolve risks and hidden dangers, and promote effective quality improvement of the economy and reasonable quantitative growth.