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China's Industrial Output Sees Significant Growth in April

China’s Industrial Output Sees Significant Growth in April

Beijing, May 17, 2024, The Europe Today: China’s value-added industrial output, a key indicator of economic performance, surged by 6.7 percent year-on-year in April, according to data released on Friday by the National Bureau of Statistics (NBS). This marks a notable acceleration from March, with growth increasing by 2.2 percentage points, NBS spokesperson Liu Aihua announced during a press conference.

On a month-to-month basis, the industrial output in April saw a modest rise of 0.97 percent from March. For the first four months of the year, the industrial output increased by 6.3 percent year-on-year, slightly up by 0.2 percentage points compared to the growth from January to March.

The value-added industrial output measures the activity of enterprises with an annual main business turnover of at least 20 million yuan (approximately 2.82 million U.S. dollars). This metric is crucial for assessing the health and activity levels of China’s large-scale industrial sector, reflecting the production capabilities and economic contributions of significant enterprises.

The robust growth in industrial output underscores the resilience and recovery momentum of China’s industrial sector amid various global economic challenges. This positive trend is expected to contribute to the overall economic stability and growth of the country.