China will intensify monitoring of the external impacts of international energy price fluctuations on domestic industry prices, National Bureau of Statistics spokeswoman Wang Guanhua said Tuesday.
Speaking at a press conference, Wang said that the Producer Price Index (PPI) rose 3.9 percent year on year last month, accelerating by 1.1 percentage points from April and marking the eighth consecutive month of month-on-month increases.
The gains reflected structural upgrades in China's industry. Sustained demand for equipment modernization in manufacturing, together with rising raw material costs, drove up prices in ferrous metal smelting and processing.
At the same time, the accelerating electrification drive and the rollout of artificial intelligence (AI) applications fueled surging demand for computing power, lifting prices across non‑ferrous metals, electronics, and electrical machinery.
Seasonal factors also contributed. Coal mining and washing prices climbed in May as stockpiling demand for summer peak electricity consumption increased, alongside growing non-power coal demand from the chemical and building materials sectors.
On the global front, crude oil prices have moderated somewhat but remain elevated. Compared with May last year, factory gate prices in oil and gas extraction, petroleum processing, and chemical industries still showed pronounced increases.
"We will continue to strengthen monitoring and judging of the imported impacts of international energy price fluctuations on domestic prices. Looking ahead, the international environment remains complex and evolving, with numerous geopolitical uncertainties. However, China has a strong capacity to ensure energy supply, increasingly diversified import channels, and a deepening clean energy transition, providing a solid foundation and favorable conditions for coping with external market fluctuations," said Wang.
China to step up monitoring of external energy price impacts on domestic industry: spokeswoman
