The value-added industrial output of China increased by 7.5 per cent in January and February this year, compared to the previous year, according to official data released by the National Bureau of Statistics (NBS). The high-tech manufacturing sector posted a high growth rate of 14.4 per cent year on year in the first two months of 2022.
The industrial output measures the activity of enterprises that have an annual business turnover of 20 million yuan (approximately $3.14 million) or more.
The output of state-owned enterprises went up by 5.9 per cent in the same period, while that of the private sector rose by 8.7 per cent, compared to last year, according to NBS.
China’s production demand recorded a growth despite the pandemic and complex international environment, Chinese media reports said quoting Fu Linghui, NBS spokesperson.
The purchasing managers’ index for the country’s manufacturing sector was 50.1 and 50.2 in January and February, respectively.