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Since March this year, the decline in the growth rate of industrial enterprises above designated size has been curbed. The year-on-year growth rate of industrial added value has risen from 3.8% in January and February to 10.8% in July.
Among the major sectors of industry, the most direct investment is the raw material industry and equipment manufacturing. From January to July, the added value of the raw materials industry increased by 7.8% year-on-year, of which 13% in July. Based on the domestic market, the consumer goods industry increased by 9.5% year-on-year in the first seven months, faster than the industry's overall growth rate by 2 percentage points. The electronics manufacturing industry is highly extroverted and affected by the international financial crisis. The value added in January-July increased by only 0.8% year-on-year. However, the growth rate in June and July has rebounded to 6.5% and 5.9%. Encouraging consumption and stabilizing export policies and measures have also greatly improved the operation of the consumer goods industry and the electronics manufacturing industry. The equipment manufacturing industry (including automobiles and ships) also showed rapid growth.
In terms of regions, from January to July, the province's industrial growth rate exceeded 10%, including Jiangsu, Shandong, Liaoning, Tianjin, Chongqing and other 13 provinces. In July, the industrial growth rate of all provinces in the country achieved positive growth.
China's industry has double-digit growth for two consecutive months. All provinces' industrial growth is positive in July.
The series of policies of “expanding domestic demand, ensuring growth, adjusting structure, and benefiting people's livelihood†have stabilized China's industrial economy. According to a press conference held by the State Council Information Office on the 13th, from January to July, the added value of industrial enterprises above designated size increased by 7.5% year-on-year, and double-digit growth was achieved in June and July. What is even more gratifying is that in July, the industrial growth rate of all provinces in China has achieved positive growth.