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Wednesday, August 14, 2019, 18:10
China's industrial output up 4.8% in July
By Xinhua
Wednesday, August 14, 2019, 18:10 By Xinhua

In this Oct 30, 2017 file photo, a staff worker works at the assembly line at the factory of Anqing branch of Anhui Jianghuai Automobile Group Corp, Ltd in Anqing City, east China's Anhui province. (JIANG SHENG / XINHUA)

BEIJING - China's value-added industrial output, an important economic indicator, expanded 4.8 percent year on year in July, the National Bureau of Statistics (NBS) said Wednesday. 

The growth rate was 1.5 percentage points lower than that recorded in June, according to the NBS.

On a monthly basis, the industrial output edged up 0.19 percent from June.

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In the first seven months, industrial output climbed 5.8 percent from one year earlier, with the pace of growth decelerating from 6 percent registered during the first half of the year, the NBS data showed.

Manufacturing output rose 4.5 percent year on year, down from 6.2 percent in June, and output growth of the mining sector eased to 6.6 percent from 7.3 percent in June

Industrial output, officially called industrial value added, is used to measure the activity of designated large enterprises with annual turnover of at least 20 million yuan (about US$2.8 million).

A breakdown of the data showed the production and supply of electricity, thermal power, gas and water reported a year-on-year growth of 6.9 percent in July, the fastest among the three major sectors and accelerating 0.3 percentage points from June.

Manufacturing output rose 4.5 percent year on year, down from 6.2 percent in June, and output growth of the mining sector eased to 6.6 percent from 7.3 percent in June.

High-tech manufacturing maintained fast expansion, with its output increasing 6.6 percent last month.

Fixed-asset investment up 5.7 pct in first 7 months

In the first seven months of 2019, China's fixed-asset investment grew 5.7 percent year on year, 0.1 percentage points lower than the growth in the first half, the data showed. 

Fixed-asset investment amounted to 34.89 trillion yuan (about US$4.98 trillion) in the first seven months, according to the NBS.

Private-sector investment rose 5.4 percent year on year to 21.03 trillion yuan and the growth rate is 0.3 percentage points lower than that in the first six months.

Fixed-asset investment includes capital spent on infrastructure, property, machinery and other physical assets.

During the January-July period, investment in high-tech sectors registered fast year-on-year growth.

Investment in high-tech manufacturing surged 11.1 percent, 5.4 percentage points faster than total investment growth, while investment in high-tech services grew 11.9 percent, 6.2 percentage points faster than the average growth.

A view of the 5G-enabled motion-controlled humanoid robot developed by Roborn Dynamics Ltd. (PHOTO PROVIDED TO CHINA DAILY)

Investment in the primary sector of the economy edged down 1.2 percent, while that in the secondary sector rose 3.4 percent.

In the secondary sector, investment in manufacturing climbed 3.3 percent year on year in the January-July period, 0.3 percentage points higher than that in the first half-year.

Investment in the tertiary sector rose 7 percent year on year in the first seven months. In this sector, investment in infrastructure climbed 3.8 percent year on year during the January-July period.

China's investment in property development grew 10.6 percent year on year in the first seven months of 2019, down from 10.9 percent registered in January-June

During the period, investment in property development grew 10.6 percent year on year, down from 10.9 percent registered in January-June. The total property investment during the period totaled 7.28 trillion yuan.

Commercial housing sales measured by floor area came in at 887.83 million square meters in the first seven months, down 1.3 percent year on year, while sales reached 8.32 trillion yuan, up 6.2 percent year on year.

Property investment up 10.6% in Jan-July

Meanwhile, China's investment in property development grew 10.6 percent year on year in the first seven months of 2019, down from 10.9 percent registered in January-June.

The total property investment during the January-July period totaled 7.28 trillion yuan (about US$1.4 trillion), the NBS said.

Retail sales up 8.3% in Jan-July

During the same period, retail sales of consumer goods rose 8.3 percent year on year.

The growth dipped from an increase of 8.4 percent registered in the first six months, according to the NBS.

In July alone, retail sales climbed 7.6 percent from one year earlier, with the pace of growth down 2.2 percentage points from June.

NBS spokeswoman Liu Aihua attributed the slowdown to shrinking auto sales last month.

Excluding auto sales, which was affected by the country's new emissions standards that came into effect in July, retail sales rose 8.8 percent last month, holding steady with that in June, Liu told a press conference.

The country's auto sales surged 17.2 percent year on year in June, as carmakers and dealers enhanced the promotion of cars that could not meet the new emissions standards before the June 30 deadline. Auto sales slid 2.6 percent in July.

Online retail sales surged 16.8 percent during the January-July period.

Liu noted that consumption has maintained stable and relatively fast expansion, and has great potential for continued growth because of the country's large and increasingly prosperous population as well as measures to improve consumption environment and supplies of goods and services.

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"The country's consumption has the foundation and condition to maintain stable and relatively growth," she said.

Job market remains stable 

In July, China's job market remained generally stable, with the surveyed urban unemployment rate slightly up from 5.1 percent in June to 5.3 percent, the NBS showed.

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