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From January to October, the industrial added value of China's rubber and plastic products industry increased by 7.8%.
According to the latest statistics of the National Bureau of Statistics, in the first ten months of 2016, the added value of China's industrial enterprises above designated size (the same below, the growth rate of value added is the actual growth rate after deducting the price factor) increased by 6.0%. In October, the added value of China's industrial enterprises above designated size increased by 6.1% year-on-year, which was the same as that in September. From the ring, the value added of industrial enterprises above designated size increased by 0.5% in the previous month.
In the past year, the value-added of industrial enterprises above designated size has increased year-on-year.
Industry situation
In terms of industries, in October, 35 of the 41 major industries maintained an increase in value added.
From January to October, the rubber and plastic products industry grew by 7.8%, and in October it increased by 6.6%.
From January to October, the chemical raw materials and chemical products manufacturing industry increased by 8.5%, and in October, the growth rate was 6.7%.
From January to October, the automobile manufacturing industry increased by 15.0%, and in October it increased by 17.9%.
From January to October, the computer, communications and other electronic equipment manufacturing industry grew by 9.7%, and in October it increased by 9.3%.
Product situation
In terms of products, in October, 377 of the 589 major products in the statistics increased year-on-year.
From January to October, the output of automobiles was 20.87 million, an increase of 12.7%. The output in October was 2.409 million units, an increase of 18.0% year-on-year.
From January to October, the output of new energy vehicles was 347,000, a year-on-year increase of 101.7%. The output in October was 39,000 units, a year-on-year increase of 44.4%.
From January to October, ethylene production was 14.83 million tons, a year-on-year increase of 2.7%. The output in October was 1.47 million tons, down 6.3% year-on-year.
From January to October, the output of smartphones was 123.823 million units, a year-on-year increase of 13.8%. The output in October was 151.91 million units, an increase of 9.6% year-on-year.
Expert interpretation
According to Jiang Yuan, senior statistician of the Industry Department of the National Bureau of Statistics, the added value of China's industrial enterprises above designated size increased by 6.1% year-on-year in October, and the growth rate was the same as that in September. Industrial production was generally stable in October, but the growth between industries was quite different.
First, the growth of high-tech industries has accelerated. In October, the added value of high-tech manufacturing increased by 10.5% year-on-year, and the growth rate was 0.9 percentage points higher than that of the previous month. Among them, aerospace equipment and equipment manufacturing, electronics and communication equipment manufacturing, medical equipment and instrumentation manufacturing industry accelerated by 6.7, 1.1, 1.0 percentage points respectively.
Second, the growth rate of the consumer goods manufacturing industry rebounded. In October, the added value of the consumer goods manufacturing industry increased by 4.9% year-on-year, and the growth rate was 1.8 percentage points higher than that of the previous month. Among them, the growth rate of sports, education, beauty, sports and entertainment products manufacturing, textiles, and pharmaceutical manufacturing increased by 5.2, 1.5, and 1.2 percentage points respectively from the previous month, and the decline in the tobacco products industry narrowed by 5.7 percentage points.
Third, the growth rate of automobile production dropped significantly. In October, vehicle production increased by 18% year-on-year, and the growth rate dropped by 13.5 percentage points from the previous month. The production of cars and SUVs increased by 9.6% and 37.0% respectively, and the growth rate dropped by 20.3 and 14.5 percentage points respectively from the previous month, mainly due to the implementation of “purchase of 1.6 liters and below passenger cars minus 5 on October 1 of last yearâ€. The policy of “purchasing vehicle purchase tax at the rate of 100%†stimulated the production and sales of automobiles, resulting in a higher base in the same month of the previous year and a slower growth rate this month. However, the growth rate of production was stable and the cumulative growth remained high.
At present, China's industrial production is characterized by overall stability and small fluctuations. Operating income and profits have stabilized and rebounded, and industrial product prices have rebounded rapidly, indicating that demand has improved. However, the price of some raw materials and high energy-consuming products has risen too fast, which will stimulate the recovery of related products, which is not conducive to the continuous advancement of energy conservation and emission reduction and the elimination of excess capacity.