China's industrial output increases 6.1% in Q1 2024

Source:China Sport ShowRelease time:22-Apr-2024Clicks:

Article From：fibre2fashion

China's industrial sector has seen a 6.1 per cent rise in value-added industrial output during the first quarter (Q1) of 2024, according to the latest figures released by the National Bureau of Statistics. The manufacturing sector played a pivotal role in this uplift, witnessing a 6.7 per cent surge in production.

Notably, the high-tech manufacturing sector outpaced overall growth, reporting a 7.5 per cent increase, which is a substantial acceleration from the last quarter of 2023 by 2.6 percentage points.

The momentum continued into March, with industrial output seeing a 4.5 per cent increase compared to the same month last year, according to Chinese media reports.

Furthermore, China's major industrial companies have reported a significant profit boost in the first two months of the year. Earnings reached 914.1 billion yuan, which is approximately $128.7 billion, marking a 10.2 per cent increase from the same period in the previous year.