China's industrial production registered steady growth in the first three quarters of 2024, accompanied by a faster pace of intelligent and green transformation.
From January to September, the total value added of industrial enterprises above the designated size increased by 5.8 percent year-on-year.
Powered by innovation and green upgrades, industrial performance emerged as a key strength, contributing nearly 40 percent of the GDP in the first three quarters.
In terms of structural adjustments, the value added in equipment manufacturing and high-tech sectors grew by 7.5 percent and 9.1 percent, respectively, significantly surpassing the 5.8 percent growth rate for all designated large industrial enterprises. This shift reflects a transition toward a more efficient, technology-driven industrial model.
"During the first three quarters, the trend of industrial transformation towards 'new' and 'green' has become more obvious, with high-tech manufacturing thriving, intelligent products rapidly growing, the new energy industry continuously expanding, and the acceleration of shifting from old drivers of growth to new ones, becoming a significant force leading high-quality industrial development," said Han Jianfei, deputy director of the Institute of Industrial Economics of CCID Consulting, Ministry of Industry and Information Technology.
In the major equipment sector, the electronics and automotive sectors grew rapidly, with double-digit increases in the production of products such as new energy vehicles, integrated circuits, and 3D printing equipment, serving as important engines driving industrial growth.
In the first three quarters, there was a clear trend of industrial transformation and upgrading. Green products represented by the "three new products" (electric vehicles, lithium batteries and solar cells) gained significant momentum, with production continuing to grow at a double-digit rate.
Industries related to competitive new energy sources like wind power, nuclear power, and photovoltaic power maintained rapid production growth. Meanwhile, the added value of information transmission, software, information technology services, and digital product manufacturing has been growing rapidly, injecting new vitality into the high-quality development of China's industrial economy.
China's industrial production grows steadily in first three quarters
A Japanese professor criticized the snap general election triggered by Prime Minister Sanae Takaichi's dissolution of the lower house as unreasonable, which just leaves a campaign period of 16 days for a general election of the House of Representatives when Takaichi announced the decision on Jan 23.
The decision is aimed to capitalize on her cabinet's current high approval ratings, according to Japanese media, and the voting in the general election began on Sunday morning, with over 1,200 candidates competing for 465 seats in the House of Representatives.
Speaking in an interview with the China Global Television Network (CGTN) on Sunday, Mikitaka Masuyama, professor at Tokyo's National Graduate Institute for Policy Studies, revealed the motivations behind calling this snap election.
"From my point of view, it is just how selfish attempts to consolidate the parliamentary base for Takaichi. There is no reason to have the snap election this time around, so we have to have the delays in the execution of the budget and in the heavy snow regions, having election is very costly and makes it a lot difficult for even ordinary people to go to the voting booth. So, it is cannot be justified to have an election this time around," said Masuyama.
The primary focus of the election is whether the ruling coalition of the Liberal Democratic Party (LDP) and the Japan Innovation Party (JIP) will secure a majority and allow the Takaichi administration to continue.
Speaking at a street rally on Jan 27, Takaichi said she wishes to "win the public trust," while reiterating her pledge to resign if the ruling camp fails to win a majority.
Analysts said Takaichi's decision to dissolve the lower house and call an early election while staking her position as prime minister reflects mounting internal pressures on her administration.
The recent personal scandals, economic and diplomatic policy risks, and her controversial remarks on foreign policy have made it difficult for the prime minister to fully implement her own agenda, pushing her to take a bold gamble.
"If Takaichi would win this election by landslide, she would assume the election gave her mandate. So, she probably becomes more confident in her stance on the security policy," said Masuyama.
"But I do understand that the international security environment is rapidly changing. I think we have to enhance defense capability. That does not necessarily mean that Japan to adopt a posture that could heighten the tensions with neighboring countries. I would rather see political groups gain power that enable Japan to play a more proactive role in international cooperation," he added.
Japanese expert: snap election unreasonable
