China's industrial production sustained steady growth, and market sales continued to expand in November, reflecting positive trends in the national economy, an official of the National Bureau of Statistics (NBS) said at a press conference in Beijing on Monday regarding the country's economic performance last month.
The total value added of the industrial enterprises above the designated size grew by 4.8 percent year on year. Driven by industrial upgrading and development, the equipment manufacturing industry, characterized by high technological content and added value, experienced rapid growth, according to the NBS.
In November, the value added of equipment manufacturing increased by 7.7 percent year on year, contributing 59.4 percent to the overall growth in value added of industrial enterprises above the designated size.
Additionally, the indices for information transmission, software and information technology services, as well as leasing and business services grew by 12.9 percent and 8.4 percent year on year, respectively, both demonstrating robust growth, the NBS said.
On the consumption front, market sales expanded, with continued growth in product sales. In November, the total retail sales of consumer goods rose by 1.3 percent year on year, reflecting an improvement in consumption quality and robust sales in certain upgraded goods, said Fu Linghui, spokesman of the NBS.
"In November, retail sales of cosmetics and gold, silver and jewelry of the enterprises (units) above the designated size increased by 6.1 percent and 8.5 percent respectively. Service retail sales grew rapidly. Services related to residents' cultural and leisure activities and online entertainment performed well. The effects of consumption upgrading continued to be evident. With the continuous release of residents' demand for a high-quality life and the in-depth implementation of special actions to boost consumption, prices in industries such as sports and cultural goods continued to rise, driven by consumption upgrading. In November, the manufacturing price of arts and crafts and etiquette supplies rose by 20.6 percent year on year, an increase of 2.2 percentage points compared to the previous month, while the manufacturing price of sports balls rose by 4.3 percent year on year," said Fu.
China's industrial production grow steadily, market sales scale up in November
China's industrial production grow steadily, market sales scale up in November
China's industrial production grow steadily, market sales scale up in November
