Industrial Production Operation from January to February 2026

From January to February 2026, the total value added of industrial enterprises above the designated size increased by 6.3% year on year in real terms (the growth rates of value added are the real growth rates after deducting price factors). On a month-on-month basis, in February, the total value added of industrial enterprises above the designated size increased by 0.83% over the previous month.

In terms of three sectors, from January to February, the value added of the mining industry increased by 6.1% year on year, that of the manufacturing industry increased by 6.6%, and that of the production and supply of electricity, heat power, gas and water increased by 4.7%.

In terms of economic types, from January to February, the value added of state-holding enterprises increased by 4.2% year on year; that of share-holding enterprises increased by 6.9%; that of enterprises funded by foreign investors and investors from Hong Kong, Macao, and Taiwan increased by 4.0%; and that of private enterprises increased by 7.4%.

In terms of industries, from January to February, the value added of 35 out of 41 major industries continued to show year-on-year growth. Among them, the value added of the mining and washing of coal went up by 7.2%, that of the extraction of petroleum and natural gas up by 5.8%, that of the processing of food from agricultural and sideline products up by 6.1%, that of the manufacture of liquor, beverages and refined tea up by 4.3%, that of the textile industry up by 5.3%, that of the manufacture of raw chemical materials and chemical products up by 7.6%, that of the manufacture of non-metallic mineral products up by 2.5%, that of the smelting and pressing of ferrous metals up by 2.2%, that of the smelting and pressing of non-ferrous metals up by 3.9%, that of the manufacture of general-purpose machinery up by 8.9%, that of the manufacture of special-purpose machinery up by 8.8%, that of the manufacture of automobiles up by 3.4%, that of the manufacture of railway, ship, aerospace and other transport equipment up by 13.7%, that of the manufacture of electrical machinery and apparatus up by 8.7%, that of the manufacture of computers, communication equipment and other electronic equipment up by 14.2%, and that of the production and supply of electricity and heat power up by 5.1%.

In terms of products, from January to February, the output of 397 out of 626 products produced by industrial enterprises above the designated size increased year on year. Among them, the output of rolled steel was 221.19 million tons, down by 1.1% year on year; that of cement was 178.27 million tons, up by 6.8%; that of ten kinds of non-ferrous metals was 13.42 million tons, up by 3.9%; that of ethylene was 6.60 million tons, up by 5.1%; that of motor vehicles was 4.024 million sets, down by 9.9%, including 1.604 million new energy vehicles, down by 13.7%; the electricity generation was 1,571.8 billion kWh, up by 4.1%; and the crude oil processing volume was 122.63 million tons, up by 2.9%.

From January to February, the product sales ratio of industrial enterprises above the designated size was 95.4%, a year-on-year decrease of 0.1 percentage points; and the export delivery value realized by industrial enterprises above the designated size stood at 2,405.0 billion yuan, a nominal increase of 6.3% year on year.

Industrial Production Operation from January to February 2026

Annotations:

1. Notes on indicators

Growth rate of total value added of industrial enterprises: also known as industrial growth rate, is used to reflect the degree of increase or decrease in industrial output over a given period. The indicator can be used to estimate the short-term trend of the industrial economy and the overall business climate. It is also an important reference and basis for the formulation and adjustment of economic policies and the implementation of macroeconomic adjustment and control.

Product sales ratio: refers to a ratio of sales value to total industrial output value, which reflects the coordination between production and sales of industrial products.

Export delivery value: refers to the value of exports by industrial enterprises (self-operated or entrusted), including those sold to Hong Kong, Macao and Taiwan, or handed over to foreign trade departments for export, as well as the value of products produced through processing with foreign-supplied samples and supplied materials, assembling with supplied parts, and compensation trade.

Average daily output: the total output released by industrial enterprises above the designated size in the current month divided by the number of days in the month.

2. Statistical Coverage

The statistical coverage of industrial enterprises above the designated size includes industrial enterprises with annual main business revenue of 20 million yuan or above.

As the coverage of industrial enterprises above the designated size changes every year, to ensure the comparability between the data of the current year and those of the previous year, the year-on-year growth rates of product output and other indicators are calculated using the statistical coverage that is as consistent as possible with that of the current period and is different from the coverage of the data published last year. The main reasons are: (1) Statistical coverage changes over time. Each year, some enterprises are included in the survey after reaching the designated standard, while others are excluded from the survey due to their smaller scale. There are also influences of enterprises that are newly established, bankrupt, and have their business licenses canceled (revoked). (2) Cross-regional duplicated calculations exist in the output data of some enterprise groups (companies). Based on specific surveys, such duplications have been eliminated.

3. Survey Method

Statistics on industrial production for enterprises above the designated size are collected through a comprehensive monthly survey (with reporting exempted for January).

4. Industrial Classification Standard

The Industrial Classification for National Economic Activities (GB/T 4754-2017) was implemented.

5. Revision of Month-on-Month Data

According to the results of automatic correction of the seasonal adjustment model, the month-on-month growth rates of the total value added of the industrial enterprises above the designated size from January 2025 to December 2025 have been revised. The revised results and month-on-month data for January to February 2026 are as follows: