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Industrial output records 24.5% growth in Q1

By Cheng Yu | | Updated: 2021-04-16 10:47
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Technicians check steel products at a subsidiary of China Baowu Steel Group in Maanshan, Anhui province. [Photo by Luo Jisheng/for China Daily]

China's industrial output, an important economic indicator, rose 24.5 percent year-on-year in the first quarter of this year, as the country's industrial production rebounded steadily, according to the National Bureau of Statistics on Friday.

The nation's industrial output also surged 2.01 percent quarter-on-quarter, with an average two-year growth of 6.8 percent. In March, the industrial output increased by 14.1 percent year-on-year, up by 0.6 percentage points compared with the previous month.

Notably, the output of equipment manufacturing and high-tech manufacturing increased by 39.9 percent and 31.2 percent, respectively, year-on-year, with an average two-year growth of 9.7 percent and 12.3 percent, respectively.

Specifically, the production of new energy vehicles, industrial robots, and integrated circuits all witnessed a year-on-year growth of over 60 percent, with the average two-year growth exceeding 19 percent.

The NBS noted that the service sector also saw a steady recovery with positive market expectation in the first quarter. The output of services for transportation, storage and postal and that of real estate grew by 32.1 percent and 21.4 percent year-on-year, respectively.

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