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Ministry Of Industry And Information Technology: Industrial Growth Rate Exceeds Expectations, There Is Enough Space To Deal With External Shocks
- Jul 31, 2018 -

At the press conference of the State New Office on July 24, Huang Libin, spokesperson of the Ministry of Industry and Information Technology, said that in the first half of the year, the added value of China's industrial enterprises above designated size increased by 6.7% year-on-year, and the industrial capacity utilization rate reached 76.7%. The profits of industrial enterprises in the first five months were last year. The higher base in the same period continued to grow by 16.5%. The industrial economy is operating better than expected at the beginning of the year.

Driven by policies such as de-capacity and environmental protection, the utilization rate of related industries, mainly based on upstream raw materials, has increased significantly, and the company's benefits have also been greatly improved.

Emerging fields such as equipment manufacturing and high-tech industries have also maintained a significant increase over industry. However, the transformation of old and new kinetic energy will not take time. At present, China's manufacturing industry has not been fundamentally resolved in terms of key core technologies and equipment, and the industrial base is not solid as the international economic environment is rising.

The escalation of Sino-US trade friction has had an impact on the expectations of the industrial economy. With the fall of tariff measures and the looting effect, the industrial economy will face considerable pressure in the second half of the year. The Ministry of Industry and Information Technology said that China has sufficient market space and policy space as well as institutional advantages to cope with the impact of world economic uncertainty.

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