On the morning of April 18, The State Council Information Office held a press conference to introduce the operation of the national economy in the first quarter of 2022. Fu Linghui, spokesman for the National Bureau of Statistics and director of the Department of Comprehensive Statistics of the National economy, introduced that industrial production grew rapidly in the first quarter, and the development of high-end manufacturing industry was good, and the added value of industrial enterprises above designated size increased by 6.5% year-on-year.

Why did industrial production maintain rapid growth in the first quarter?

ACC-24E2A Fu Linghui said that since the beginning of this year, under the role of policies and measures to promote the smooth operation of industry, industrial production has been generally stable. The rapid growth of industrial production has been driven by the recovery of the domestic economy and the recovery of the world economy, as well as the strengthening of the driving role of industrial innovation and the continuous driving role of industrial upgrading, as well as the strengthening of market supply and the rapid growth of related industries.

First, industrial upgrading plays an obvious role in driving. As China’s development stage changes, the market demand for high-end products increases, coupled with the effective implementation of innovation-driven strategy, the pace of industrial upgrading accelerates. The equipment manufacturing industry has developed well, and the high-tech manufacturing industry has grown rapidly, which has played a more obvious role in supporting the industry. In the first quarter, the added value of the equipment manufacturing industry increased by 8.1% year-on-year, of which the electrical machinery and equipment manufacturing industry, the ACC-24E2A computer, communications and other electronic equipment manufacturing industry grew by more than 10%, both of which drove the growth of industrial above designated size by about 1.7 percentage points. In the first quarter, the added value of high-tech manufacturing increased by 14.2% year-on-year, which was also significantly faster than the growth of all industries above designated size.

Second, the production of consumer goods manufacturing expanded. As the economy continues to recover, residents’ market demand for living consumption expands, driving the growth of related manufacturing industries. In the first quarter, the added value of consumer goods manufacturing industry increased by 8.1% year-on-year, of which the added value of agricultural and sideline food processing industry, food manufacturing industry, wine and beverage and refined tea manufacturing industry, and pharmaceutical manufacturing industry increased by 6.4%, 6%, 12.1% and 11.8% respectively, and these four industries drove the growth of industries above designated size by about 1 percentage point.

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Third, industrial exports grew rapidly. China has a complete industrial system and strong supporting capacity, which can quickly adapt to changes in international market demand. The expansion of foreign demand for China’s industrial exports has boosted the growth of industrial production. In the first quarter, the value of industrial export delivery increased by 14.4% year-on-year, continuing to maintain rapid growth. Among them, the export delivery value of the automobile manufacturing industry and special equipment manufacturing industry increased by more than 20%.

4) Production in the coal, power and other industries expanded. Energy and raw material markets continued to strengthen, and production in related industries grew rapidly. In the first quarter, the added value of the mining industry increased by 10.7% year-on-year, of which the coal mining and washing industry increased by 13.2%. At the same time, the first quarter of electricity, heat production and supply industry, gas production and supply industry also maintained rapid growth.ACC-24E2A  According to preliminary estimates, the growth of mining, electric power and heat and gas industries combined to drive the growth of industries above designated size by about 1.4 percentage points.

At the same time, a series of policy measures to support the development of enterprises have also played a positive role in stabilizing industrial production. In the first quarter, according to a questionnaire survey of nearly 110,000 industrial enterprises above designated size in the country, the satisfaction of enterprises with various preferential policies increased by 2.7 percentage points from the previous quarter, of which the satisfaction of enterprises with tax reduction and fee reduction policies exceeded 85%.

On the trend of industrial production, Fu Linghui pointed out that industrial production has been affected by the impact of the epidemic, and the growth of industrial production above scale has slowed down in March, and the production and operation difficulties of enterprises have increased. “In the face of the new situation and changes, we must face up to the difficulties and take proactive measures to cope with them. More importantly, we must strengthen our confidence and see that industrial production is generally stable and resilient, and we are fully equipped to withstand the pressure and maintain stable operation.” Fu Linghui said.

Fu Linghui said that in the next stage, we should implement various support policies to promote industrial economic development, actively support manufacturing and small and micro enterprises, increase support for enterprises seriously affected by the epidemic, strengthen energy and raw materials to ensure stable supply and prices, maintain the stability of the industrial chain and supply chain, and promote the stable and healthy development of the industry.