According to the National Bureau of Statistics, in September, China’s value-added industrial output above designated size actually increased by 3.1% year-on-year (the growth rate hereinafter refers to price-adjusted actual growth rate), up 10.2% than the same period of 2019. The two-year average growth reached 5.0%. It edged up 0.05% from the previous month. In the first three quarters, China’s value-added industrial output above designated size grew by 11.8% year-on-year.

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 2.4% year-on-year in September and 12.5% in the first three quarters. In September, the textile industry’s value-added output declined by 5.8%, while it increased by 3.7% in January-September period. By product, in September, the production of 255 out of 612 kinds of products increased year-on-year. In the output of main products, the output of fabric decreased 1.2% year-on-year to 3.4 billion meters in September and increased by 10.1% to 28.7 billion meters in January-September, while the output of chemical fibers dropped 2.0% to 5.34 million tons in September and rose 13.5% to 50.37 million tons in January-September.

In September, the sales-output ratio of industrial enterprises was 98.2%, down 0.4 percentage points from the same period of last year.

Source: CHINA TEXTILE LEADER Express