Industrial Production Operation in August 2021

In August, the added value of industries above designated size actually increased by 5.3 percent year-on-year (the growth rate of the following added value was the actual growth rate after deducting price factors), an increase of 11.2 percent over the same period in 2019 and an average increase of 5.4 percent over the two years. On a month-on-month basis, in August, the added value of industries above designated size increased by 0.31 percent over the previous month. From January to August, the added value of industries above designated size increased by 13.1 percent year-on-year, with an average growth of 6.6 percent in two years.

Divided into three categories, in August, the added value of mining industry increased by 2.5 percent year-on-year, that of manufacturing industry increased by 5.5 percent, and that of power, heat, gas and water production and supply industry increased by 6.3 percent.

In terms of economic types, in August, the added value of state-owned holding enterprises increased by 4.6 percent year-on-year; that of joint stock enterprises increased by 6.1 percent, and that of foreign-invested enterprises and enterprises invested by Hong Kong, Macao and Taiwan increased by 3.4 percent; and that of private enterprises increased by 5.2 percent.

In terms of industry, in August, the added value of 34 of the 41 major industries maintained year-on-year growth. Agricultural and sideline food processing industry increased by 7.2 percent, textile industry decreased by 2.5 percent, chemical raw materials and chemical products manufacturing industry increased by 5.5 percent, non-metallic mineral products industry increased by 4.4 percent, ferrous metal smelting and processing industry decreased by 5.3 percent, non-ferrous metal smelting and processing industry increased by 2.8 percent, general equipment manufacturing industry increased by 6.7 percent, special equipment manufacturing industry increased by 8.7 percent, automobile manufacturing industry decreased by 12.6 percent, railway shipbuilding, aerospace and other transportation equipment manufacturing increased by 1.3 percent, electrical machinery and equipment manufacturing increased by 10.3 percent, computer, communication and other electronic equipment manufacturing increased by 13.3 percent, and power and heat production and supply increased by 5.0 percent.

In terms of product, in August, the output of 323 of 612 products increased year-on-year. 108.8 million tons of steel, a year-on-year decrease of 10.1 percent; 215.17 million tons of cement, down 5.2 percent; 5.3 million tons of ten non-ferrous metals, an increase of 0.4 percent; 2.31 million tons of ethylene, an increase of 15.3 percent; 1.734 million vehicles, down 19.1 percent, including 330,000 new energy vehicles, an increase of 151.9 percent; the power generation was 738.3 billion kwh, an increase of 0.2 percent; crude oil processing capacity was 58.35 million tons, down 2.2 percent.

In August, the product sales rate of industrial enterprises was 97.8 percent, a year-on-year decrease of 0.4 percentage point; industrial enterprises achieved an export delivery value of 1,205.5 billion yuan, a year-on-year nominal increase of 14.8 percent.

Industrial Production Operation of August 2021

Annotations:

1. Explanation of Indicator.

Growth rate of value added of the industrial enterprises: also known as industrial growth rate, which is used to reflect a certain period of increase or decrease in volume of industrial production indicators of the degree of change. The indicator can be used to estimate the short-term trend of the industrial economy, to judge the extent of the economic boom, and also to be an important reference and basis for the formulation and adjustment of economic policies, and for the implementation of macroeconomic adjustment and control.

Sales ratio: refers to sale value and industrial output value, which reflecting the situation between production and sales of industrial products.

Export delivery value: refers to the foreign trade department of industrial enterprises or self-run (commission) exports (including sold in Hong Kong, Macao and Taiwan), with the price of foreign exchange settlement of product value, and foreign samples, materials processing, component assembly and compensation trade product value.

Daily product output: the total production of the total value added of the industrial enterprises above designated size in the current month divided by number of days in the month.

Two years average growth rate: it refers to the growth rate calculated by geometric average method with the corresponding number of the same period in 2019 as the base.

2. Statistical Coverage.

The standard starting point of industrial enterprises above designated size was 20 million yuan of annual revenue from primary business.

Due to the annual changes of the coverage of industrial enterprises above designated size, and in order to ensure that the data for this year is comparable with that of the previous year, the data of the corresponding period used for calculating the year-on-year growth rates of various indicators such as product output is as consistent with the enterprise statistical coverage of the current period as possible, and there is a difference in caliber from the data published last year. The main reasons are: (1) Coverage changes of statistical units. Each year, some companies will be included in the survey after having reached requisite size, and some will exit the survey due to their smaller size, and there are also influence of new built and starting enterprises, bankruptcies, and companies that have been suspended or sold. (2) There is cross-regional repeated calculation in the output data of some enterprise group (company) products, which has been eliminated according to specific surveys.

3. Survey Methods.

The reports of industrial enterprises above designated size are conducted with complete survey on a monthly basis (Not report for January).

4. Standard on industrial classification

NBS enforces New Standard on Industrial Classification for National Economic Activities' (GB/T 4754-2017). For details, please refer the following link: http://www.stats.gov.cn/tjsj/tjbz/hyflbz.

5. Revision on month-on-month data

The month-on-month growth rate of the total value added of the industrial enterprises above designated size from August 2020 to July 2021 was revised according to the results of automatic revision of seasonal adjustment model. The results are as follows:

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