Ministry of Industry and Information Technology: The steady recovery of industrial production in August will accelerate the recovery and expansion of demand

Source: CCTV | September 20, 2023 10:50:15

News from CCTV: On the morning of September 20, the State Council Information Office held a regular briefing on State Council policies to interpret the economic situation and policies and answer reporters' questions.

Tao Qing, director of the Operation Monitoring and Coordination Bureau of the Ministry of Industry and Information Technology, said that since this year, the Ministry of Industry and Information Technology has resolutely implemented the decisions and arrangements of the Party Central Committee and the State Council, actively responded to various risks and challenges, and focused on stabilizing growth and improving quality. , optimized structure and other work. In August, industrial production recovered steadily and corporate efficiency gradually improved.

First, industrial production has picked up steadily. In August, the added value of my country's industrial enterprises above designated size increased by 4.5% year-on-year, and the growth rate accelerated by 0.8 percentage points from the previous month. From an industry perspective, from January to August, the added value of 27 of the 41 major industrial industries increased year-on-year. Among the top 10 manufacturing industries accounting for GDP, 7 industries have a growth rate higher than the national average, and the 10 major industries contribute 87.4% to the overall industrial growth. From a regional perspective, from January to August, 9 of the top 15 provinces in terms of industrial added value accelerated their growth rates further compared with the first half of the year.

Second, the industrial structure is continuously optimized. Investment growth in high-tech manufacturing has accelerated. From January to August, manufacturing investment increased by 5.9% year-on-year. Among them, investment in high-tech manufacturing increased by 11.2% year-on-year. The equipment manufacturing industry is developing rapidly. In August, the added value of the equipment manufacturing industry increased by 5.4% year-on-year, contributing 38.9% to the growth of all designated industries. New products are growing rapidly. In August, the output of service robots and civil aircraft increased by 73.7% and 33.3% respectively. The output of photovoltaic cells, lithium-ion power batteries for automobiles and other products also increased by 77.8% and 31.5% respectively.

Third, positive factors for steady industrial growth continue to accumulate. The connection between production and sales of enterprises has been further smoothed. The industrial producer price index (PPI) continued to narrow, with the decline in August further narrowing by 1.4 percentage points from the previous month. The product sales rate of industrial enterprises above designated size was 97.4%, which has returned to a level above 97% for two consecutive months. . The decline in corporate profits also narrowed further. In the first seven months, profits of industrial enterprises above designated size fell by 15.5% year-on-year, but the decline has continued to narrow. With the decline in upstream raw material prices, corporate revenue is improving and corporate cost pressures have eased. Business confidence is also gradually increasing. In August, the manufacturing PMI picked up further. Among them, the production index and new orders index were 51.9% and 50.2% respectively, both highs in five months.

In the next step, we will work with all regions and departments to resolutely implement the decisions and arrangements of the Party Central Committee and the State Council, and promote the industrial economy to achieve effective qualitative improvement and reasonable quantitative growth.

First, strengthen coordinated implementation of policies. We will step up the implementation of the work plan for stabilizing growth in ten key industries and promote the implementation of stabilizing growth policies to achieve results.

The second is to accelerate the recovery and expansion of demand. Strengthen quality brand building, promote supply-side innovation, and create demand with high-quality supply as the lead. Guide enterprises to expand international markets according to local conditions and further tap export potential.

The third is to step up efforts to enhance development momentum. Deeply implement intelligent manufacturing projects and accelerate the transformation and upgrading of traditional industries. Systematically promote the development of emerging industries such as 5G, intelligent connected cars, and new materials, open up new fields and new tracks, cultivate a number of new growth engines, and create new competitive advantages.