National Bureau of Statistics (NBS): PV solar cell production reached 71.93 GW in April, up 33.4% YoY

On May 19, the National Bureau of Statistics (NBS) released the main data on industrial production above designated size for April. The data showed that the production of solar cells (PV cells) in April was 71.93 GW, up 33.4% YoY. The cumulative production of PV solar cells (PV cells) from January to April was 239.06 GW, up 18.8% YoY.

The original text is as follows:

In April, the actual year-on-year growth of the value-added of industrial enterprises above designated size was 6.1% (the growth rate of value-added is the actual growth rate after deducting price factors). On a MoM basis, the value-added of industrial enterprises above designated size increased by 0.22% in April compared to the previous month. From January to April, the value-added of industrial enterprises above designated size increased by 6.4% YoY.

Broken down by the three major sectors, in April, the value-added of the mining industry increased by 5.7% YoY, that of the manufacturing industry increased by 6.6%, and that of the production and supply of electricity, heat, gas, and water increased by 2.1% YoY.

Broken down by economic type, in April, the value-added of state-controlled enterprises increased by 2.9% YoY; that of joint-stock enterprises increased by 6.6%, that of foreign-funded and Hong Kong, Macao, and Taiwan-invested enterprises increased by 3.9%; and that of private enterprises increased by 6.7% YoY.

Broken down by industry, in April, the value-added of 36 out of 41 major industrial categories maintained year-on-year growth. Among them, the coal mining and washing industry increased by 6.3%, the oil and natural gas extraction industry increased by 4.3%, the agricultural and sideline food processing industry increased by 7.3%, the liquor, beverage, and refined tea manufacturing industry increased by 5.5%, the textile industry increased by 2.9%, the chemical raw materials and chemical products manufacturing industry increased by 8.0%, the non-metallic mineral products industry increased by 0.4%, the ferrous metal smelting and rolling processing industry increased by 5.8%, the non-ferrous metal smelting and rolling processing industry increased by 7.5%, the general equipment manufacturing industry increased by 7.8%, the special equipment manufacturing industry increased by 3.7%, the automobile manufacturing industry increased by 9.2%, the railway, shipbuilding, aerospace, and other transportation equipment manufacturing industry increased by 17.6%, the electrical machinery and equipment manufacturing industry increased by 13.4%, the computer, communication, and other electronic equipment manufacturing industry increased by 10.8%, and the electricity and heat production and supply industry increased by 1.2% YoY.

Broken down by product, in April, the output of 341 out of 623 products in industries above designated size increased year-on-year. Among them, steel production was 125.09 million mt, up 6.6% YoY; cement production was 165.3 million mt, down 5.3% YoY; the production of ten non-ferrous metals was 6.76 million mt, up 3.1% YoY; ethylene production was 2.98 million mt, up 10.1% YoY; automobile production was 2.604 million units, up 8.5% YoY, including 1.228 million units of new energy vehicles (NEVs), up 38.9% YoY; power generation was 711.1 billion kWh, up 0.9% YoY; and crude oil processing volume was 58.03 million mt, down 1.4% YoY.

In April, the sales-to-output ratio of industrial enterprises above designated size was 97.2%, down 0.2 percentage points YoY. The export delivery value of industrial enterprises above designated size reached 1,246.9 billion yuan, with a nominal year-on-year increase of 0.9%.

Key Data on Industrial Production Above Designated Size in April 2025

Notes

1. Explanation of Indicators

Growth rate of industrial added value: This refers to the growth rate of industry, which is an indicator used to reflect the extent of changes in the volume of industrial production over a certain period. This indicator can be used to assess the short-term operational trends of the industrial economy and the degree of economic prosperity. It also serves as an important reference and basis for formulating and adjusting economic policies and implementing macroeconomic regulation.

Sales-to-output ratio: This is the ratio of sales output value to total industrial output value, used to reflect the connection between production and sales of industrial products.

Export delivery value: This refers to the value of products exported by industrial enterprises on their own behalf (or through commission) (including those sold to Hong Kong, Macao, and Taiwan regions) or delivered to foreign trade departments for export, as well as the value of products produced through processing with materials, components, and assembly supplied by foreign merchants, and compensation trade.

Daily average product output: This is calculated by dividing the total output of industrial enterprises above designated size announced for the current month by the number of calendar days in that month.

2. Statistical Scope

The statistical scope of industries above designated size includes industrial enterprises with an annual main business income of 20 million yuan or more.

Due to annual changes in the scope of industrial enterprises above designated size, to ensure the comparability of data between the current year and the previous year, the base period figures used for calculating the year-on-year growth rates of various indicators, such as product output, are made as consistent as possible with the statistical scope of enterprises in the current period. There may be differences in the scope of data compared with those published in the previous year. The main reasons are as follows: (1) Changes in the scope of statistical units. Each year, some enterprises reach the designated size and are included in the survey scope, while others exit due to a reduction in size. Additionally, newly established and operational enterprises, bankruptcies, and enterprises that have had their business licenses revoked (or suspended) also affect the scope. (2) There is a phenomenon of duplicate statistical counting of product output data across regions for some enterprise groups (companies). Duplicate output across regions for enterprise groups (companies) has been eliminated based on special surveys.

3. Survey Method

A comprehensive monthly survey is conducted on the industrial production reports of industrial enterprises above designated size (data for January is exempted from reporting).

4. Industry Classification Standard

The National Economic Industry Classification Standard (GB/T 4754-2017) is implemented.

5. Revision of Month-on-Month Data

Based on the automatic correction results of the seasonal adjustment model, the month-on-month growth rates of industrial added value for industrial enterprises above designated size from April 2024 to March 2025 have been revised. The revised results and the month-on-month (MoM) data for April 2025 are as follows: