Official data showed that China’s industrial production experienced accelerated growth last year, driven by the country's continued efforts to optimize and upgrade its industrial structure.

According to the National Bureau of Statistics (NBS), China’s value-added industrial output, an important economic indicator, rose by 5.8% year over year in 2024, accelerating from the 4.6% growth recorded in 2023.

The data showed that industrial output grew 6.2% from a year earlier and 0.64% from November alone in December.
Kangyi, head of the NBS, told a press conference that the value-added industrial output in the fourth quarter of 2024 grew 5.7% year on year, up 0.7 percentage points compared to the previous quarter.

By sector, the textile industry’s value-added output up by 5.1% in 2024.

By product, in December, the production of 396 out of 619 kinds of products increased year-on-year. Among them, fabric output increased by 2.8% year-on-year in December to 2.9 billion meters and grew by 2.2% year-on-year in 2024 to 30.6 billion meters. And the output of chemical fibers upped by 5.5% year-on-year in December to 6.97 million tons and surged 9.7% year-on-year to 79.11 million in 2024.

“China's industrial structure has continued to optimize and to be upgraded,” Kang said, adding that high-tech manufacturing and equipment manufacturing accounted for 16.3% and 34.6%, respectively, of the total value-added industrial output in 2024, representing increases of 0.6 percentage points and 1 percentage point compared to 2023.
Industrial output measures the activity of large enterprises, each with an annual main business turnover of at least 20 million yuan (about 2.78 million U.S. dollars).

Despite growth in the value-added industrial output, industrial profits have narrowed. In the first eleven months of 2024, the data showed that the total profits made by industrial enterprises above the designated size stood at 6.67 trillion yuan, down 4.7% year on year.

Source: CHINA TEXTILE LEADER Express