China Posts 5.3% Industrial Growth in Jan-Jul as High-Tech Manufacturing Jumps 13.8%
Updated
Updated · Global Times · Aug 17
China Posts 5.3% Industrial Growth in Jan-Jul as High-Tech Manufacturing Jumps 13.8%
3 articles · Updated · Global Times · Aug 17
Summary
China’s economy stayed broadly stable in January-July, with industrial output rising 5.3% and services output 4.7%, according to National Bureau of Statistics data released Monday.
High-tech manufacturing led the expansion, climbing 13.8% in the first seven months, while equipment manufacturing rose 9.7% and together with digital products contributed about 50% of industrial growth.
July data showed that momentum strengthening: high-tech manufacturing grew 16.9% year on year, 2.8 percentage points faster than in June, while equipment manufacturing increased 12.3%.
New-economy products underscored the shift, with January-July output of 3D printing equipment up 52.3%, lithium-ion batteries 40.2% and industrial robots 28.5%; AI-linked sensors and storage chips also posted strong July gains.
Weak spots persisted as fixed-asset investment fell 6.7% and officials flagged weak demand, operational strains at some firms and a volatile external environment despite the economy’s innovation-driven shift.