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July 26, 2016

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Manufacturing powers steady gain in industrial development

MANUFACTURING is driving the steady growth in China’s industrial development, and the government vows it will further upgrade industrial structure by boosting advanced manufacturing, the Ministry of Industry and Information Technology said yesterday.

The country’s industrial added value grew 6 percent in the first half of this year from the same period in 2015.

Profits of industrial companies rose by 6.4 percent year on year in the first five months of 2016.

Growth in China’s industry has been steady at around 6 percent since the second half of last year and the percentage of loss-making enterprises has fallen to 16.6 percent to rank the lowest over the past five years, the ministry said.

The recovery was led by manufacturing. Added value of the advanced technology sector grew 4.2 percentage points faster than the overall industrial added value while growth of the equipment manufacturing sector was 2.1 percentage points higher than that of industry as a whole.

Industrial restructuring was cited as the reason for the progress, with Feng Fei, a vice minister, saying investment in infrastructure construction, green energy and Big Data projects jumped 14.5 percent. Meanwhile the output of crude steel fell 1.1 percent year on year in the first six months.

Feng reiterated that the government will continue to boost the quality of industrial development to create more space for advanced technology and cut excess capacity in traditional industries.

The government is encouraging the use of robots in industrial production. The ministry has unveiled 5.2 billion yuan (US$779 million) to develop intelligent production to better connect digitization and manufacturing.


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