The industrial production of China's private sector registered steady growth in the first three quarters of 2024, with the investment in fixed assets continuing to expand in scale and the structure further optimized, according to the National Development and Reform Commission (NDRC).
In the January to September period, the growth rate of industrial added value and profit related to the private economy increased compared with the same period of last year. The output of new energy vehicles, integrated circuits, 3D printing equipment and other products, of which the private economy accounts for a relatively high proportion, increased by more than 20 percent.
The private investment in the real economy witnessed a good momentum of growth.
In the same period, private investment in the secondary industry grew by 13.2 percent, of which that in the manufacturing sector grew by 11.6 percent, 2.4 percentage points higher than that in the overall manufacturing sector.
The effect of the policy on expanding effective investment has gradually been emerging.
In the period, a total of 37.9 trillion yuan (about 5.3 trillion U.S. dollars) was invested in fixed assets nationwide, a year-on-year increase of 3.4 percent, remaining the same as that of the January-August period.
China's private industrial production grows steadily in first three quarters
