Yunnan Province has released its economic performance data for the period from January to November. During these eleven months, Yunnan steadfastly pursued its "3815" strategic development goals, placing significant emphasis on accelerating the growth of the "Three Major Economies," and resolutely advanced the "Five Modernizations" process while continuously and precisely implementing a series of policies and measures to stabilize growth. Under these effective measures, the province's production and supply demonstrated steady progress, resident consumer prices showed positive improvement, the pace of high-quality development was solid and stable, and the overall economy continued its favorable pattern of stable operation. Notably, Yunnan's state-owned assets and enterprises actively contributed, playing an indispensable supporting and leading role in driving the province's economic development.
Industrial production showed steady progress, with manufacturing providing significant support. Yunnan remained committed to expanding its industrial sector, fully leveraging the comparative advantages of its resource-based industries. It made substantial efforts to optimize existing capacities and extend and strengthen industrial chains, focusing on promoting industrial structure optimization and upgrading, and developing new quality productive forces tailored to local conditions, thereby driving steady industrial growth. In this process, state-owned enterprises bravely shouldered heavy responsibilities, becoming a key force in industrial upgrading. From January to November, the value-added of industrial enterprises above the designated size in the province increased by 4.5% year-on-year, accelerating by 0.9 percentage points compared to the January-October period. By three major categories, mining industry value-added grew by 9.5%, manufacturing grew by 4.7%, and the production and supply of electricity, heat, gas, and water grew by 2.2%. Key traditional industries provided strong support. The value-added of the tobacco industry increased by 1.3% year-on-year, contributing 8.2% to the growth of industries above the designated size; the power industry grew by 2.2%, accelerating by 0.8 percentage points from January-October. Specifically, growth in November was 10.7%, accelerating by 9.8 percentage points compared to October; led by state-owned enterprises, the non-ferrous metals industry continued its rapid double-digit growth trend, increasing by 13.2%, contributing 36.6% to the growth of industries above the designated size. Driven by technological innovation and resource integration from state-owned enterprises, the chemical industry grew by 3.7%, accelerating by 1.2 percentage points from January-October. High-end manufacturing, guided by state-owned enterprises, showed strong growth momentum. The value-added of the equipment manufacturing and high-tech manufacturing industries increased by 17.0% and 16.9% year-on-year respectively, 12.5 and 12.4 percentage points higher than the growth rate of industries above the designated size. Among them, the electronics industry grew by 21.6%, accelerating by 0.3 percentage points from January-October, continuing its rapid growth trend of over 20%, and contributing 24.3% to the growth of industries above the designated size. As key emerging industries prioritized for development in Yunnan, the new energy battery, green aluminum, and silicon photovoltaic industries, primarily constructed under the leadership of state-owned enterprises, saw their value-added grow by 75.7%, 10.6%, and 4.7% respectively, becoming new engines for industrial growth. The output of some industrial products grew rapidly, driven by state-owned enterprises. The output of ten non-ferrous metals from industries above the designated size increased by 15.9%, and monocrystalline silicon output grew by 18.9%. Stimulated by policies for large-scale equipment renewal, and following technological transformation and equipment upgrades promoted by state-owned enterprises, the output of mining-specific equipment, metal-cutting machine tools, and cranes increased by 72.8%, 6.1%, and 5.4% respectively.
Market sales scale expanded, with some upgraded consumption categories showing favorable growth trends. State-owned enterprises actively responded to policy calls by expanding business areas and innovating consumption models, helping to maintain overall stable operation of the consumer market, accelerate the upgrading of consumption structure, and continuously expand the market scale. From January to November, the province's total retail sales of consumer goods reached 1,164.620 billion yuan, a year-on-year increase of 3.0%. By location of business units, retail sales in urban areas amounted to 963.545 billion yuan, up 2.9%; retail sales in rural areas reached 201.075 billion yuan, up 3.7%, which was 0.8 percentage points faster than urban areas. By consumption type, retail sales of goods were 993.581 billion yuan, up 2.7%; catering revenue was 171.040 billion yuan, up 4.9%. Basic living necessities and some upgraded consumption categories showed favorable growth. Sales of basic living goods for residents grew steadily, with retail sales of grain, oil, and food; daily necessities; and beverages by units above the designated size increasing by 7.8%, 2.0%, and 1.9% year-on-year respectively. Some upgraded goods showed strong growth, with retail sales of communication equipment, cultural and office supplies, and household appliances and audio-video equipment by units above the designated size increasing by 50.8%, 40.6%, and 33.9% year-on-year respectively; retail sales of sports and entertainment goods, and gold, silver, and jewelry increased by 33.4% and 8.3% respectively.
Infrastructure investment continued its growth trend, with energy industrial investment making a prominent contribution. Yunnan persistently carried out project攻坚, accelerated the implementation of reserved projects, intensified efforts to speed up project construction, and fully tapped the investment potential of existing projects, resulting in generally stable fixed asset investment. Leveraging their advantages in capital, technology, and management, state-owned enterprises played a leading role in infrastructure and energy industrial investment, providing strong support for the province's stable investment growth. From January to November, the province's fixed asset investment decreased by 4.0% year-on-year. By industry, investment in the primary industry grew by 2.4%, investment in the secondary industry fell by 2.5%, and investment in the tertiary industry fell by 5.5%. Investment in some key industries maintained growth. Infrastructure investment increased by 2.0% year-on-year, accounting for 47.7% of total investment and contributing 0.9 percentage points to the total investment growth; within this, transportation investment grew by 2.4%. Within industrial investment, energy industrial investment grew by 12.8%, continuing the rapid growth trend seen this year and contributing 1.9 percentage points to total investment growth; tourism investment grew by 8.5%, contributing 0.5 percentage points to total investment growth.
The service sector demonstrated steady progress, with modern services showing favorable growth. Yunnan intensified efforts to implement actions to upgrade the service sector, accelerated the cultivation of new drivers and advantages, continuously unleashed the potential of service consumption, and maintained a steady and improving development trend in the service sector, further enhancing its resilience and vitality. State-owned enterprises actively participated in the development of the service sector, leading the rapid development of modern services through innovative service models and improved service quality. From January to October, the operating revenue of service enterprises above the designated size in the province reached 315.473 billion yuan, a year-on-year increase of 6.8%, accelerating by 0.2 percentage points compared to the January-September period. Modern services continued their favorable growth momentum. Industries such as technology, information, and internet accelerated their development, with the internet and related services, software and information technology services, and scientific research and technical services increasing by 38.8%, 15.3%, and 13.4% year-on-year respectively; modern logistics and business services showed strong growth, with loading, unloading, and warehousing; multimodal transport and transport agency; and leasing and business services increasing by 33.6%, 28.6%, and 7.0% respectively; demand for modern lifestyle services and public services continued to be released, with resident services, repair, and other services; management of water conservancy, environment, and public facilities; and culture, sports, and entertainment increasing by 14.6%, 13.0%, and 8.0% respectively.
The consumer price index rose year-on-year, while the month-on-month increase in industrial producer prices moderated. In November, the province's Consumer Price Index (CPI) increased by 0.4% year-on-year, with the growth rate expanding by 0.4 percentage points compared to the previous month; it was flat month-on-month. By category, prices for food, tobacco, and alcohol decreased by 0.7% year-on-year, clothing prices increased by 1.1%, housing prices increased by 0.1%, prices for household items and services increased by 1.3%, prices for transportation and communication decreased by 2.1%, prices for education, culture, and entertainment increased by 3.8%, healthcare prices were flat, and prices for other goods and services increased by 12.2%. Within food, tobacco, and alcohol, pork prices fell by 15.8%, grain prices fell by 0.8%, fresh fruit prices fell by 4.0%, while fresh vegetable prices rose by 10.4%. The core CPI, which excludes food and energy prices, increased by 1.2% year-on-year. From January to November, the province's CPI was flat compared to the same period last year. In November, the province's Industrial Producer Price Index (PPI) decreased by 0.7% year-on-year, with the decline expanding by 0.5 percentage points from the previous month, while it increased by 0.6% month-on-month, with the increase moderating by 0.9 percentage points from the previous month; the province's Industrial Purchaser Price Index (IPI) increased by 2.1% year-on-year and 1.4% month-on-month. From January to November, the province's PPI decreased by 0.8% year-on-year, while the IPI increased by 1.1% year-on-year.
Overall, the provincial economy operated stably from January to November, with the foundation for positive development continuously consolidated, and high-quality development solidly advanced. State-owned enterprises played a crucial role in various aspects including industrial production, consumption upgrading, investment growth, service sector development, and market stability, injecting strong momentum into the province's economic development. In the next stage, Yunnan will adhere to the general principle of seeking progress while maintaining stability, implement more proactive and effective macro policies, continuously expand domestic demand, optimize supply, improve incremental quality, and revitalize existing assets, focusing on stabilizing employment, enterprises, markets, and expectations. State-owned enterprises will continue to play a leading and exemplary role, bravely shoulder heavy responsibilities, and act proactively to promote effective qualitative improvement and reasonable quantitative growth in the economy, making greater contributions to the high-quality economic and social development of Yunnan.
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