China’s industrial production picked up pace in the first two months of 2024, accompanied by faster growth in the high-tech manufacturing and consumer goods manufacturing sectors, official data showed. The value-added industrial output, an important economic indicator, went up 7% year on year during the January-February period of 2024, the National Bureau of Statistics (NBS) said. The growth accelerated 0.2 percentage points from December 2023, according to the NBS. Monthly, industrial output edged up 0.56% in February from the previous month.

The industrial output is used to measure the activity of enterprises each with an annual main business turnover of at least CNY 20 million (about US$ 2.82 million).

From January to February, the textile industry’s value-added output upped by 6.6%.

By product, in the first two months, the production of 418 out of 619 kinds of products increased year-on-year. Among them, fabric output declined by 0.2% year-on-year to 4.8 billion meters in the January-February period, while the output of chemical fibers surged 27.7% to 11.68 million tons in the first two months this year.

Source: CHINA TEXTILE LEADER Express