Industrial Production Operation in March 2022

In March, the added value of industries above designated size actually increased by 5.0 percent year-on-year (the growth rate of added value below was the actual growth rate after deducting price factors). On a month on month basis, in March, the added value of industries above designated size increased by 0.39 percent over the previous month. In the first quarter, the added value of industries above designated size increased by 6.5 percent year-on-year.

Divided into three categories, in March, the added value of the mining industry increased by 12.2 percent year-on-year; the manufacturing industry increased by 4.4 percent; and the production and supply of electricity, heat, gas and water increased by 4.6 percent.

In terms of economic types, in March, the added value of state-owned holding enterprises increased by 3.3 percent year-on-year; joint stock enterprises increased by 6.9 percent, while foreign-invested enterprises and enterprises invested by Hong Kong, Macao and Taiwan decreased by 1.1 percent; and private enterprises increased by 6.0 percent.

By industry, in March, the added value of 37 of the 41 major industries maintained year-on-year growth. Among them, coal mining and washing industry increased by 16.7 percent, oil and natural gas mining industry increased by 5.7 percent, agricultural and sideline food processing industry increased by 6.1 percent, wine, beverage and refined tea manufacturing industry increased by 7.0 percent, textile industry increased by 0.7 percent, chemical raw materials and chemical products manufacturing industry increased by 3.0 percent, non-metallic mineral products industry increased by 1.6 percent, ferrous metal smelting and processing industry decreased by 1.6 percent, and non-ferrous metal smelting and processing industry increased by 6.2 percent, the general equipment manufacturing industry decreased by 0.7 percent, the special equipment manufacturing industry increased by 7.6 percent, the automobile manufacturing industry decreased by 1.0 percent, the railway, ship, aerospace and other transportation equipment manufacturing industry increased by 1.1 percent, the electrical machinery and equipment manufacturing industry increased by 10.6 percent, the computer, communication and other electronic equipment manufacturing industry increased by 12.5 percent, and the power and heat production and supply industry increased by 3.9 percent.

By product, in March, the output of 304 of 617 products increased year-on-year. 116.89 million tons of steel, a year-on-year decrease of 3.2 percent; 186.55 million tons of cement, down 5.6 percent; 5.64 million tons of ten non-ferrous metals, an increase of 3.1 percent; 2.37 million tons of ethylene, down 4.9 percent; 2.387 million vehicles, down 4.9 percent, including 518,000 new energy vehicles, up 121.4 percent; the power generation was 670.2 billion kwh, an increase of 0.2 percent; crude oil processing capacity was 58.59 million tons, down 2.0 percent.

In March, the product sales rate of industrial enterprises was 94.5 percent, a year-on-year decrease of 2.0 percentage points; industrial enterprises achieved an export delivery value of 1,331.1 billion yuan, a year-on-year nominal increase of 10.8 percent.

Industrial Production Operation of March 2022

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. 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 March 2021 to February 2022 was revised according to the results of automatic revision of seasonal adjustment model. The results are as follows: