The added value of industries above scale increased by 6% in the first half of the year compared with the same period last year.-Shanghai Metals Market

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The added value of industries above scale increased by 6% in the first half of the year compared with the same period last year.

Translation 02:57:30PM Jul 17, 2019 Source:Website of the National Bureau of Statistics
The content below was translated by Tencent automatically for reference.

SMM News: in the first half of 2019, the overall industrial production throughout the country is stable, and the growth rate is in a reasonable range. Industrial restructuring has continued to advance, new kinetic energy has maintained rapid growth, capacity utilization has been at a good level in recent years, the efficiency of enterprises has tended to improve, and the operating environment of small and micro enterprises has been continuously improved.

I. steady growth of industrial production

In the first half of the year, the added value of industries above the national scale increased by 6% over the same period last year, the same rate as from January to May, and remained within a reasonable range as a whole. Of this total, industrial production rose 6.3 percent in June from a year earlier, 1.3 percentage points faster than in May.

Most industries continue to grow. In the first half of the year, the added value of 39 of the 41 major industries maintained year-on-year growth. Among them, railway ships and aerospace equipment, electrical machinery, non-metallic mineral products, chemical fiber and other industries achieved double-digit growth.

60% of the output of industrial products increased compared with the same period last year. In the first half of the year, 366 of the 605 major industrial products recorded a year-on-year increase in output, with a growth rate of 60.5%.

Growth has been achieved in most areas. In the first half of the year, the industrial added value of 29 of the 31 provinces, autonomous regions and municipalities directly under the Central Government increased compared with the same period last year, and the growth rate of industrial added value in 15 of them was higher than that of the whole country.

II. The new kinetic energy of industry is growing rapidly

The growth of high-tech industries has accelerated. In the first half of the year, the added value of high-tech manufacturing industry increased by 9 percent over the same period last year, 3 percentage points higher than that of industries above scale, 1.2 percentage points faster than in the first quarter, and accounting for 13.8 percent of the added value of industries above scale, an increase of 0.8 percentage points over the same period last year. Of this total, the electronics and communications equipment industry grew by 11.6 percent, 2.2 percentage points faster than in the first quarter, and the aviation, spacecraft and equipment industry grew by 10.5 percent, an increase of 2.6 percentage points.

Strategic emerging industries are growing rapidly. In the first half of the year, the added value of strategic emerging industries increased by 7.7 percent over the same period last year, 1.7 percentage points higher than that of industries above scale, 1 percentage point faster than in the first quarter, and accounted for 18.6 percent of the added value of industries above scale, an increase of 0.2 percentage points over the same period last year.

The output of some emerging industrial products has maintained rapid growth. In the first half of the year, products such as 3D printing devices, smartwatches, service robots, new energy vehicles, urban rail vehicles and solar cells grew rapidly, up 271.4%, 162.9%, 86.5%, 34.6%, 29.3% and 20.1% respectively over the same period last year.

III. Capacity utilization has increased

In the second quarter, the utilization rate of industrial capacity in the country was 76.4 percent, 0.5 percentage points higher than in the first quarter. Capacity utilization is 1 percentage point higher than the average since 2013, slightly below the average of 76.9 per cent since the 2006 survey.

The utilization rate of mining capacity has rebounded. In the second quarter, the capacity utilization rate of the mining industry was 74.6%, an increase of 1.3% over the same period last year. Among them, due to the impact of rising prices, the black metal mining industry has rebounded sharply from the same period last year; the oil and gas mining industry is the second highest since the survey was conducted in 2006, only lower than the previous quarter.

The capacity utilization rate of raw material manufacturing industry has generally increased. In the second quarter, the capacity utilization rate of the raw material manufacturing industry was 77%, up 1.5 percentage points from the same period last year. Among them, the black and non-ferrous metal smelting industry was 80.9%, the highest point since 2013; the non-metallic mineral products industry benefited from the rise in demand prices, the year-on-year recovery was more obvious; the petroleum processing and chemical raw materials industry rose slightly compared with the same period last year.

IV. The efficiency of enterprises tends to improve

The profits of industrial enterprises have changed from decline to increase. Between January and May, total profits for industries above size fell 2.3 per cent from a year earlier, down 1.1 percentage points from January to April. Among them, the growth rate in May was 1.1% higher than that of the same period last year, and the growth rate changed from negative to positive.

The asset-liability ratio fell. At the end of May, the asset-liability ratio of industrial enterprises above size was 56.8%, down 0.6 percentage points from the same period last year, of which the asset-liability ratio of state-owned holding enterprises was 58.3%, down 1.4 percentage points from the same period last year.

The turnover of finished goods has accelerated. At the end of May, finished goods inventory rose 4.1% from a year earlier, 0.8 percentage points lower than at the end of April, and the turnover days of finished goods inventory was 17.5 days, down 0.1 days from the same period last year.

The per capita output efficiency has improved. At the end of May, the per capita operating income of industrial enterprises above scale was 1.328 million yuan, an increase of 111000 yuan over the same period last year.

V. continuous improvement of the operating environment of small and micro enterprises

The scope of tax relief policy has been expanding. In the second quarter, 52.2% of small and micro enterprises enjoyed tax breaks, up 3 percentage points from the first quarter.

The problems of financing and recruitment have been alleviated. In the second quarter, small and micro enterprises with demand for bank loans accounted for 14.0 percent, and 22.5 percent of the small and micro enterprises with demand for bank loans received most or all of the loans, an increase of 3.3 percentage points over the first quarter. Among the small and micro enterprises with recruitment demand, 38.6% of them recruited most or all of the employees they needed, an increase of 3.3% over the same period last year.

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The added value of industries above scale increased by 6% in the first half of the year compared with the same period last year.

Translation 02:57:30PM Jul 17, 2019 Source:Website of the National Bureau of Statistics
The content below was translated by Tencent automatically for reference.

SMM News: in the first half of 2019, the overall industrial production throughout the country is stable, and the growth rate is in a reasonable range. Industrial restructuring has continued to advance, new kinetic energy has maintained rapid growth, capacity utilization has been at a good level in recent years, the efficiency of enterprises has tended to improve, and the operating environment of small and micro enterprises has been continuously improved.

I. steady growth of industrial production

In the first half of the year, the added value of industries above the national scale increased by 6% over the same period last year, the same rate as from January to May, and remained within a reasonable range as a whole. Of this total, industrial production rose 6.3 percent in June from a year earlier, 1.3 percentage points faster than in May.

Most industries continue to grow. In the first half of the year, the added value of 39 of the 41 major industries maintained year-on-year growth. Among them, railway ships and aerospace equipment, electrical machinery, non-metallic mineral products, chemical fiber and other industries achieved double-digit growth.

60% of the output of industrial products increased compared with the same period last year. In the first half of the year, 366 of the 605 major industrial products recorded a year-on-year increase in output, with a growth rate of 60.5%.

Growth has been achieved in most areas. In the first half of the year, the industrial added value of 29 of the 31 provinces, autonomous regions and municipalities directly under the Central Government increased compared with the same period last year, and the growth rate of industrial added value in 15 of them was higher than that of the whole country.

II. The new kinetic energy of industry is growing rapidly

The growth of high-tech industries has accelerated. In the first half of the year, the added value of high-tech manufacturing industry increased by 9 percent over the same period last year, 3 percentage points higher than that of industries above scale, 1.2 percentage points faster than in the first quarter, and accounting for 13.8 percent of the added value of industries above scale, an increase of 0.8 percentage points over the same period last year. Of this total, the electronics and communications equipment industry grew by 11.6 percent, 2.2 percentage points faster than in the first quarter, and the aviation, spacecraft and equipment industry grew by 10.5 percent, an increase of 2.6 percentage points.

Strategic emerging industries are growing rapidly. In the first half of the year, the added value of strategic emerging industries increased by 7.7 percent over the same period last year, 1.7 percentage points higher than that of industries above scale, 1 percentage point faster than in the first quarter, and accounted for 18.6 percent of the added value of industries above scale, an increase of 0.2 percentage points over the same period last year.

The output of some emerging industrial products has maintained rapid growth. In the first half of the year, products such as 3D printing devices, smartwatches, service robots, new energy vehicles, urban rail vehicles and solar cells grew rapidly, up 271.4%, 162.9%, 86.5%, 34.6%, 29.3% and 20.1% respectively over the same period last year.

III. Capacity utilization has increased

In the second quarter, the utilization rate of industrial capacity in the country was 76.4 percent, 0.5 percentage points higher than in the first quarter. Capacity utilization is 1 percentage point higher than the average since 2013, slightly below the average of 76.9 per cent since the 2006 survey.

The utilization rate of mining capacity has rebounded. In the second quarter, the capacity utilization rate of the mining industry was 74.6%, an increase of 1.3% over the same period last year. Among them, due to the impact of rising prices, the black metal mining industry has rebounded sharply from the same period last year; the oil and gas mining industry is the second highest since the survey was conducted in 2006, only lower than the previous quarter.

The capacity utilization rate of raw material manufacturing industry has generally increased. In the second quarter, the capacity utilization rate of the raw material manufacturing industry was 77%, up 1.5 percentage points from the same period last year. Among them, the black and non-ferrous metal smelting industry was 80.9%, the highest point since 2013; the non-metallic mineral products industry benefited from the rise in demand prices, the year-on-year recovery was more obvious; the petroleum processing and chemical raw materials industry rose slightly compared with the same period last year.

IV. The efficiency of enterprises tends to improve

The profits of industrial enterprises have changed from decline to increase. Between January and May, total profits for industries above size fell 2.3 per cent from a year earlier, down 1.1 percentage points from January to April. Among them, the growth rate in May was 1.1% higher than that of the same period last year, and the growth rate changed from negative to positive.

The asset-liability ratio fell. At the end of May, the asset-liability ratio of industrial enterprises above size was 56.8%, down 0.6 percentage points from the same period last year, of which the asset-liability ratio of state-owned holding enterprises was 58.3%, down 1.4 percentage points from the same period last year.

The turnover of finished goods has accelerated. At the end of May, finished goods inventory rose 4.1% from a year earlier, 0.8 percentage points lower than at the end of April, and the turnover days of finished goods inventory was 17.5 days, down 0.1 days from the same period last year.

The per capita output efficiency has improved. At the end of May, the per capita operating income of industrial enterprises above scale was 1.328 million yuan, an increase of 111000 yuan over the same period last year.

V. continuous improvement of the operating environment of small and micro enterprises

The scope of tax relief policy has been expanding. In the second quarter, 52.2% of small and micro enterprises enjoyed tax breaks, up 3 percentage points from the first quarter.

The problems of financing and recruitment have been alleviated. In the second quarter, small and micro enterprises with demand for bank loans accounted for 14.0 percent, and 22.5 percent of the small and micro enterprises with demand for bank loans received most or all of the loans, an increase of 3.3 percentage points over the first quarter. Among the small and micro enterprises with recruitment demand, 38.6% of them recruited most or all of the employees they needed, an increase of 3.3% over the same period last year.