Guangdong's industrial output rose 6.1% year-on-year in the January-August period, according to data released by the provincial statistics bureau on September 21. Advanced manufacturing and high-tech manufacturing saw value-added output gains of 6.9% and 11.4%, respectively, while overall economic performance remained steady during the period.
Industrial production accelerated, with the year-to-date growth rate climbing 0.4 percentage points compared to the first seven months. Key sectors posted solid gains, including computer, communication and other electronic equipment manufacturing, automobile manufacturing, special-purpose equipment manufacturing, and general equipment manufacturing, which grew 11.4%, 12.2%, 13.4%, and 8.4%, respectively.
New growth drivers continued to expand, as advanced manufacturing and high-tech manufacturing output increased 6.9% and 11.4%. High-tech product output surged, with industrial robots, integrated circuits, new-energy vehicles, and lithium-ion batteries rising 35.8%, 30.8%, 48.9%, and 38.7%, respectively.
Services enterprises above designated size grew steadily. From January to July, their operating revenue rose 7.1% year-on-year. Information transmission, software and information technology services revenue increased 6.1%, while transportation, warehousing and postal services grew 8.8%, and leasing and business services rose 12.7%. High-speed rail passenger volume and passenger turnover climbed 9.7% and 7.5%, respectively.
Retail sales showed a broader recovery. Total retail sales of consumer goods rose 1.3% year-on-year in the first eight months. Urban retail sales increased 1.6%, while rural retail sales fell 0.8%. Catering revenue at units above designated size grew 3.8%. Sales of everyday essentials rose notably, with grain and oil, beverages, and clothing, footwear, hats, and textiles retailing up 6.4%, 7.7%, and 18.1%, respectively. Communication equipment and new-energy vehicle retail sales climbed 39.5% and 7.4%.
The decline in fixed-asset investment continued to narrow. From January to August, fixed-asset investment fell 10.7% year-on-year, with the contraction narrowing by 0.6 percentage points from the first seven months, marking a third consecutive month of improvement. Excluding real estate development investment, fixed-asset investment dropped 6.8%. Infrastructure investment declined 3.5%, though investment in water conservancy management and internet-related services grew 21.9% and 391.8%, respectively. High-tech manufacturing investment rose 9.9%, with electronic and communication equipment manufacturing investment up 10.3%, and electronic computer and office equipment manufacturing investment surging 41.9%.
Consumer prices edged up moderately. The consumer price index (CPI) rose 0.8% year-on-year in the first eight months. Producer price changes expanded, with the producer price index (PPI) and the industrial producer purchase price index (IPI) rising 0.7% and 2.6%, respectively, during the same period.
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