Guangzhou (JLC), March 18, 2024--China's value-added industrial output increased by 7.0% year on year in the first two months of 2024, according to the latest data released by the National Bureau of Statistics (NBS) on Monday.
On a month-on-month comparison, industrial output grew by 0.56%.
In terms of sectors, the output of the mining industry recorded a year-on-year gain of 2.3% in January-February, while that of industries in the production and supply of electricity, heat power, gas, and water saw a climb of 7.9%, the NBS data shows.
At the same time, the output of the manufacturing industry rose by 7.7%, and that of high-tech manufacturing gained 7.5%.
In a breakdown by ownership, the output of state-owned enterprises grew by 5.8% in the months, while that of private enterprises went up by 6.5%, the NBS data also indicates.
Meanwhile, the output of joint-stock enterprises and oversea-funded enterprises moved up by 7.3% and 6.2%, respectively.
China's industrial output, officially called industrial value added, is used to measure the activity of designated enterprises with an annual business turnover of at least 20 million yuan (about 2.82 million U.S. dollars).
