Industrial added value data in 27 provinces increased year-on-year

Recently, provinces announced macroeconomic data for the first five months of this year.
The growth rate of industrial production in most provinces is higher than the national average. Investment in fixed assets in 14 provinces has increased, and consumer markets in various regions have continued to pick up.

Recently, provinces announced macroeconomic data for the first five months of this year.

The growth rate of industrial production in most provinces is higher than the national average. Investment in fixed assets in 14 provinces has increased, and consumer markets in various regions have continued to pick up.

In May, the industrial added value of 27 provinces achieved positive growth year-on-year, and the growth rate of industrial production in 19 provinces outperformed the national average of 4.4%.

The growth rate of industrial production in Gansu, Jilin, Tibet and other places led the way, with the growth rate exceeding 10%. In addition, the growth rate of industrial production in Zhejiang, Chongqing, Xinjiang, Shaanxi and other places exceeded 8%.

The increase in output of high value-added products such as automobiles, smart TVs, and mobile communication base station equipment has become the highlight of industrial production.

For example, the growth rate of the automobile industry in Anhui rose to 16.1% in May, a record high for the same period since 2011. The output of Fujian sport utility vehicles (SUV), smart TVs, semiconductor storage disks, and mobile communication base station equipment have all increased exponentially.

Medical protective equipment in many places also maintained rapid growth. In May, the output of medical masks and fermented alcohol in industrial enterprises above designated size in Henan increased by 9.2 times and 2.7 times, respectively. The number of masks and household room air cleaning devices produced by Zhejiang enterprises increased by 22 times and 2.5 times respectively.

14 provinces achieved growth in fixed asset investment

Although the cumulative year-on-year fixed-asset investment in the country is still decreasing, but in the past two months, the fixed-asset investment data of many provinces has begun to change from decreasing to increasing.

Judging from the data from January to May this year, 14 provinces have achieved fixed asset investment growth, and most of them are in the western region. The overall investment growth rate of Xinjiang, Tibet, and Qinghai leads the country, with a year-on-year increase of 24.1%, 12.5%, and 10.3, respectively. %.

Analysts said that the reason for the recovery of investment in the western region is that, first, major projects have begun to resume and advance faster, and second, they have benefited from huge investment demand. Earlier, Yunnan, Sichuan and other places have announced trillion-dollar investment plans for major projects.

The growth rates of several provinces with large overall investment volume, such as Shandong, Henan, and Sichuan, also began to turn positive. In the first 5 months, fixed asset investment in Henan increased by 0.9% year-on-year, and Shandong increased by 0.2% year-on-year.

From the perspective of local investment, investment in new infrastructure and people’s livelihood has grown rapidly, especially in the health sector, which has become the focus of investment everywhere. Data show that in the first 5 months, Jiangxi’s health investment increased by 37.7% year-on-year, and Shandong’s health investment increased by 26.4%.

Consumer markets continue to pick up

Although the consumption data of most provinces is still negative, the signs of consumption recovery in the past two months have become increasingly obvious, and some regions have even achieved small growth.

According to the statistics of the Fujian Provincial Bureau of Statistics, in May, the total retail sales of consumer goods in Fujian achieved positive growth for the first time this year, from a decrease of 1.1% in April to a year-on-year increase of 3.1%.

The same trend also appears in other regions. In May, Henan’s consumption increased by 2.1% year-on-year, an increase of 5 percentage points from April; Shanghai’s consumption growth rate was 0.6%, an increase of 8.9 percentage points from April; Zhejiang’s consumption growth rate continued to rise in May after it turned from negative in April to 5%.

Image: Pixel https://www.pexels.com/zh-cn/photo/683419/

Disclaimer: This is an article created by Michael Liang for Chinasdg.org. You can find the original article here: https://chinasdg.org/2020/06/27/industrial-added-value-data-in-27-provinces-increased-year-on-year/.

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