Global EditionASIA 中文雙語(yǔ)Fran?ais
    Business
    Home / Business / Policies

    Industry bouncing back as policy pays off

    By MA SI | CHINA DAILY | Updated: 2023-04-19 07:40
    Share
    Share - WeChat
    An employee welds equipment at a machinery manufacturer in Qingzhou, Shandong province. WANG JILIN/FOR CHINA DAILY

    Domestic demand expected to offset pressure of weaker exports, uncertainty

    China's industrial rebound is picking up pace on the back of a steady recovery in domestic production and demand, despite challenges and external uncertainties, experts said.

    Such a positive trend is expected to continue as policy support restores market confidence and encouraging signs indicate enterprises' heightened expectations, they added.

    The comments came after China's industrial output — a gauge of activity in manufacturing, mining and utilities — grew 3.9 percent in March from a year earlier, figures released by the National Bureau of Statistics showed on Tuesday.

    That was 1.5 percentage points faster than the January-February performance, indicating that the recovery of China's industrial economy is picking up pace.

    Fu Linghui, an NBS spokesman, said on Tuesday that positive changes are emerging in industrial production, with most sectors maintaining growth.

    Fu said that among the 41 major industrial sectors, 23 maintained year-on-year growth in the first quarter.

    Equipment manufacturing has played a clear supporting role for the industrial economy, contributing to 42.5 percent of the growth in terms of overall industrial output, he added.

    Specifically, the equipment manufacturing sector's growth rate hit 4.3 percent year-on-year in the first quarter, 1.3 percentage points higher than that of overall industrial output.

    Meanwhile, raw material production also saw rapid growth, and small and medium-sized enterprises recorded a marked improvement in performance, Fu said.

    Zhou Maohua, a macroeconomic analyst at China Everbright Bank, said industrial output continued to recover last month, with a significant acceleration in growth rate, mainly due to the steady recovery of domestic economic activity and a rebound in market demand.

    "The combination of relief and assistance policies effectively reduced production costs and financial pressure in the manufacturing sector, smoothed out the industrial and supply chains, improved corporate confidence and drove an increase in output," Zhou said.

    In March, retail sales of new energy vehicles in China expanded 21.9 percent year-on-year to 543,000 units, said the China Passenger Car Association, thus significantly driving manufacturing output.

    Ye Yindan, a researcher at the BOC Research Institute, said the March industrial data roughly met market expectations. Going forward, the industrial economy will maintain a good recovery momentum, with the sustained rebound in domestic demand expected to offset the pressure of falling external demand and becoming the main force driving production, Ye said.

    Meanwhile, the government is expected to maintain policy support, which will continuously restore the confidence of SMEs, and improve market expectations, Ye said.

    "Industrial output in the second quarter is expected to increase by around 9 percent year-on-year, given the low comparison base of last year," Ye added.

    Efforts are needed to adjust policy priorities in a timely fashion based on economic recovery, such as supporting the development of newly established enterprises through tax incentives and financial support, and encouraging State-owned enterprises to postpone the collection of rent from newly established enterprises, Ye said.

    Yang Yuanqing, chairman and CEO of Lenovo Group Ltd, the world's largest personal computer maker, said China's efforts to support the private sector and implement favorable industrial and financial policies are giving companies more confidence.

    "We aim to grow our personal computer business at a growth rate that outpaces the overall industry growth and maintain industry-leading profitability in the new fiscal year," Yang said.

    Top
    BACK TO THE TOP
    English
    Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
    License for publishing multimedia online 0108263

    Registration Number: 130349
    FOLLOW US
    CLOSE
     
    国产亚洲情侣一区二区无码AV | 无码国模国产在线无码精品国产自在久国产 | 亚洲AV无码一区二三区| 中文字幕无码AV波多野吉衣| 亚洲最大激情中文字幕| 久久久精品无码专区不卡 | 无码AV一区二区三区无码| 亚洲精品无码不卡在线播HE| 无码精品A∨在线观看免费| 日韩中文字幕在线播放| 色吊丝中文字幕| 性无码专区| 国产乱子伦精品无码专区 | 亚洲高清有码中文字| 国产午夜无码片免费| 国产精品无码A∨精品影院| 少妇无码AV无码专区线| 亚洲AV无码一区二区乱子伦 | 日韩人妻无码精品一专区| 亚洲av中文无码乱人伦在线r▽| 东京热av人妻无码专区| 久久久无码精品亚洲日韩京东传媒| 中文字幕高清有码在线中字| 午夜不卡无码中文字幕影院| 亚洲AV无码专区在线播放中文| 乱人伦中文无码视频在线观看| 亚洲 另类 无码 在线| 无码精品蜜桃一区二区三区WW| 日韩精品无码永久免费网站 | 亚洲人成中文字幕在线观看| 最近2019中文免费字幕在线观看| 亚洲AV无码乱码在线观看牲色| 无码国产成人午夜电影在线观看| 亚洲精品一级无码鲁丝片| 亚洲AV无码之日韩精品| 亚洲国产a∨无码中文777| 在线观看无码AV网站永久免费| 日韩人妻无码中文字幕视频| 精品久久久久久无码中文字幕一区 | 免费无码H肉动漫在线观看麻豆| 久久无码AV中文出轨人妻|