According to the National Bureau of Statistics, in May, China's value-added industrial output above designated size increased by 8.8% year-on-year (the growth rate hereinafter refers to price-adjusted actual growth rate), up by 13.6% year-on-year. The average growth rate reached 6.6% in the past two years. It edged up 0.52% from the previous month. And it rose by 17.8% in January-May. The two-year average growth rate was 7.0%.

Industrial output, officially called industrial value added, is used to measure the activity of certain large enterprises with annual turnover of at least CNY 20 million (about US$ 2.9 million).

The manufacturing output increased by 9.0% year-on-year in May and 19.3% in the first five months. In May, the textile industry's value-added output declined by 3.0%, while it increased by 10.8% in January-May period. By product, in May, the production of 428 out of 612 kinds of products increased year-on-year. Thereinto, the output of fabric rose 6.9% year-on-year to 3.4 billion meters in May and increased by 12.3% to 15.1 billion meters in January-May, while the output of chemical fibers grew by 8.4% to 5.85 million tons in May and rose 19.2% to 27.55 million tons in January-May. In May, the sales-output ratio of industrial enterprises was 97.4%, down 0.4 percentage points from the same period of last year.

Source: CHINA TEXTILE LEADER Express