Industrial Production Operation in December 2019

In December 2019, the total value added of the industrial enterprises above designated size was up by 6.9 percent year-on-year in real terms (the following growth rates of value added are real growth rates, after deducting price factors), an increase of 0.7 percentage point from November. In December, the total value added of the industrial enterprises above designated size went up by 0.58 percent month-on-month. From January to December, the total value added of the industrial enterprises above designated size was up by 5.7 percent year-on-year.

In view of three sectors, the value added of mining and quarrying increased by 5.6 percent year-on-year in December, with the growth rate lower 0.1 percentage point than that in November. The value added of manufacturing increased by 7.0 percent, an increase of 0.7 percentage point, and that of production and distribution of electricity, heating power, gas and water was up by 6.8 percent, faster 0.1 percentage point over that in November.

Analysis on different types of enterprises showed that, in December, the value added of the state holding enterprises increased by 7.0 percent, year-on-year, that of joint-stock enterprises increased by 7.5 percent, that of enterprises funded by foreign investors or investors from Hong Kong, Macao and Taiwan province increased by 4.8 percent, that of private enterprise increased by 7.1 percent.  

Grouped by different sectors, in December, 33 industries within 41 industrial divisions kept year-on-year growth. Of this total, the growth of processing of food from agricultural products decreased by 0.3 percent, the textile industry was up by 0.2 percent, the manufacture of raw chemical materials and chemical products, up by 7.7 percent, the manufacture of non-metallic mineral products, up by 8.4 percent, the manufacture and processing of ferrous metals, up by 10.7 percent, the manufacture and processing of non-ferrous metals, up by 5.0 percent, the manufacture of general-purpose machinery and special-purpose machinery, up by 4.9 and 6.5 percent respectively. The value-added in the manufacture of automobile industry jumped 10.4 percent, that of manufacture of railway locomotives, ships and boats, air and spacecrafts and other transportation equipment down by 6.8 percent, and that of manufacture of electric machinery and equipment, up by 12.4 percent; the manufacture of computer, communication equipment and other electronic equipment, up by 11.6 percent; the production and supply of electric power and heat power, up by 7.0 percent.

In terms of different regions, in December, the value-added of eastern region increased by 6.9 percent year-on-year; central region went up by 6.7 percent; western region rose by 7.8 percent; northeastern region went up by 9.0 percent.

In terms of different products, 365 products within 605 products kept year-on-year growth. Of this total, the output of pig iron was 104.33 million tons, went up by 11.3 percent year-on-year, that of cement was 199.35 million tons, went up by 6.9 percent, that of 10 kinds of nonferrous metals was 5.31 million tons, up by 4.7 percent, that of ethylene was 1.86 million tons, up by 14.6 percent, that of automobiles was 2,705 thousand sets, up by 8.1 percent, in which, that of cars was 973 thousand sets, down by 5.8 percent, that of new energy cars was 135 thousand sets, down by 27.0 percent, that of electricity was 654.4 billion kilowatt-hours, up by 3.5 percent, that of crude oil was 58.51 million tons, up by 13.6 percent.

The sales ratio of industrial products in December was 98.2 percent, a decrease of 0.8 percentage point from the same month of last year. The total export delivery value of industrial enterprises was 1,170.8 billion yuan, a nominal year-on-year increase of 0.4 percent.

Annotations:

1. Explanation of Indicator.

Growth rate of value added of the industrial enterprises: also known as industrial growth rate, which is used to reflect a certain period of increase or decrease in volume of industrial production indicators of the degree of change. The indicator can be used to estimate the short-term trend of the industrial economy, to judge the extent of the economic boom, and also to be an important reference and basis for the formulation and adjustment of economic policies, and for the implementation of macroeconomic adjustment and control.

Sales ratio: refers to sale value and industrial output value, which reflecting the situation between production and sales of industrial products.

Export delivery value: refers to the foreign trade department of industrial enterprises or self-run (commission) exports (including sold in Hong Kong, Macao and Taiwan), with the price of foreign exchange settlement of product value, and foreign samples, materials processing, component assembly and compensation trade product value.

Daily product output: the total production of the total value added of the industrial enterprises above designated size in the current month divided by number of days in the month.

2. Statistical Coverage.

The standard starting point of industrial enterprises above designated size was 20 million yuan of annual revenue from primary business.

Due to the annual changes of the coverage of industrial enterprises above designated size, and in order to ensure that the data for this year is comparable with that of the previous year, the data of the corresponding period used for calculating the year-on-year growth rates of various indicators such as product output is as consistent with the enterprise statistical coverage of the current period as possible, and there is a difference in caliber from the data published last year. The main reasons are: (1) Coverage changes of statistical units. Each year, some companies will be included in the survey after having reached requisite size, and some will exit the survey due to their smaller size, and there are also influence of new built and starting enterprises, bankruptcies, and companies that have been suspended or sold. (2) There is cross-regional repeated calculation in the output data of some enterprise group (company) products, which has been eliminated according to specific surveys.

3. Data Collection.

The reports of industrial enterprises above designated size are conducted with complete survey on a monthly basis (Not report for January).

4. Division on Eastern, Central and Western Regions.

Eastern region includes Beijing, Tianjin, Hebei, Liaoning, Shanghai, Jiangsu, Zhejiang, Fujian, Shandong, Guangdong, and Hainan. Central region includes Shanxi, Jilin, Heilongjiang, Anhui, Jiangxi, Henan, Hubei, and Hunan. Western region includes Inner Mongolia, Guangxi, Chongqing, Sichuan, Guizhou, Yunnan, Tibet, Shaanxi, Gansu, Qinghai, Ningxia, and Xinjiang. Northeastern region includes Liaoning, Jilin and Heilongjiang.

5. Standard on industrial classification

NBS enforces New Standard on Industrial Classification for National Economic Activities" (GB/T 4754-2017). For details, please refer the following link: http://www.stats.gov.cn/tjsj/tjbz/hyflbz.

6. Content release adjustment

The share-holding enterprise data released in the past refers to the enterprise whose registration type is “collective”. With the establishment of the modern enterprise system, the proportion of enterprises registered as “collective” is declining (, the operating income of share-holding enterprises accounts for all industries above designated size over the proportion of enterprises is only 0.18% in 2018), so from 2019, the release of share-holding enterprise data will be cancelled.

7.Revision on month-on-month data

The month-on-month growth rate of the total value added of the industrial enterprises above designated size from November 2018 to October 2019 was revised according to the results of automatic revision of seasonal adjustment model. The results and data of November 2019 are as follows: