According to the National Bureau of Statistics, in March, China's value-added industrial output above designated size actually decreased by 1.1% year-on-year (the growth rate hereinafter refers to price-adjusted actual growth rate), 12.4 percentage points narrower than that of the first two months of 2020. It ballooned 32.13% from the previous month. In the first quarter, China's value-added industrial output above designated size declined by 8.4%.

Industrial output, officially called industrial value added, is used to measure the activity of certain large enterprises with an annual turnover of at least CNY 20 million (about US$ 2.9 million). By region, in January-March, the value-added industrial output declined 0.7% year-on-year in eastern regions, 0.8% in the central regions, 4.3% in the western regions and 7.1% in the northeast. And the sales-output ratio of industrial enterprises was 95.0%, down 4.1 percentage point from the same period of last year.

The manufacturing output decreased by 1.8% year-on-year in March and 10.2% in the first three months. In March, the textile industry's value-added output declined by 5.5%, while it plunged by 16.8% in January-March period. In the output of main products, the output of fabric nosedived 24.9% year-on-year to 3.3 billion meters in March and decreased by 31.1% to 7.4 billion meters in January-March, while the output of chemical fibers declined 4.5% to 4.90 million tons in March and decreased 10.0% to 12.16 million tons in January-March.

Source: CHINA TEXTILE LEADER Express