Industrial Production Operation in September 2021

In September, the added value of industries above designated size actually increased by 3.1 percent year-on-year (the growth rate of the following added value was the actual growth rate excluding price factors), an increase of 10.2 percent over the same period in 2019 and an average increase of 5.0 percent over the two years. On a month-on-month basis, in September, the added value of industries above designated size increased by 0.05 percent over the previous month. From January to September, the added value of industries above designated size increased by 11.8 percent year-on-year, with an average growth of 6.4 percent in the two years.

Divided into three categories, in September, the added value of the mining industry increased by 3.2 percent year-on-year; that of manufacturing industry increased by 2.4 percent; and that of production and supply of electricity, heat, gas and water increased by 9.7 percent.

In terms of economic types, in September, the added value of state-owned holding enterprises increased by 4.5 percent year-on-year; that of joint stock enterprises increased by 4.0 percent, and that of foreign-invested enterprises and enterprises invested by Hong Kong, Macao and Taiwan increased by 0.4 percent; private enterprises increased by 2.8 percent.

By industry, in September, the added value of 30 of the 41 major industries maintained year-on-year growth. The agricultural and sideline food processing industry increased by 2.5 percent, the textile industry decreased by 5.8 percent, the manufacturing of chemical raw materials and chemicals remained unchanged year-on-year, the non-metallic mineral products industry decreased by 1.1 percent, the ferrous metal smelting and processing industry decreased by 9.7 percent, the non-ferrous metal smelting and processing industry increased by 1.2 percent, the general equipment manufacturing industry increased by 3.0 percent, the special equipment manufacturing industry increased by 8.8 percent, the automobile manufacturing industry decreased by 8.2 percent, and the railway, shipbuilding, aerospace and other transportation equipment manufacturing grew by 7.9 percent, electrical machinery and equipment manufacturing grew by 6.8 percent, computer, communication and other electronic equipment manufacturing grew by 9.5 percent, and power and heat production and supply grew by 8.9 percent.

By product, in September, the output of 255 of 612 products increased year-on-year. Of which, 101.95 million tons of steel, a year-on-year decrease of 14.8 percent; 205.04 million tons of cement, down 13.0 percent; 5.23 million tons of ten non-ferrous metals, down 1.6 percent; 2.23 million tons of ethylene, an increase of 9.3 percent; 2,186,000 vehicles, down 13.7 percent, including 362,000 new energy vehicles, up 141.3 percent; the power generation was 675.1 billion kwh, an increase of 4.9 percent; crude oil processing capacity was 56.07 million tons, down 2.6 percent.

In September, the product sales rate of industrial enterprises was 98.2 percent, a year-on-year decrease of 0.4 percentage point; industrial enterprises achieved an export delivery value of 1,339.1 billion yuan, a year-on-year nominal increase of 16.8 percent.

Industrial Production Operation of September 2021

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.

Two years average growth rate: it refers to the growth rate calculated by geometric average method with the corresponding number of the same period in 2019 as the base. 

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. Survey Methods.

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

4. 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.

5. 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 September 2020 was revised according to the results of automatic revision of seasonal adjustment model. The results are as follows: