On Sept. 15, the National Bureau of Statistics released industrial production data for August. Information shows that the added value of industrial enterprises above designated size increased by 5.3% year-on-year in real terms (the growth rate of added value below is the real growth rate after deducting price factors), up by 11.2% over the same period in 2019, and an average growth rate of 5.4% over the two years. On a month-on-month basis, the added value of industrial enterprises above designated size increased by 0.31 percent in August compared with the previous month. From January to August, the added value of industrial enterprises above designated size increased by 13.1 percent year-on-year, with a two-year average growth of 6.6 percent.
In August, the output of integrated circuit products reached 32.1 billion pieces, up 39.4% year on year. From January to August, the output of integrated circuit products reached 239.9 billion pieces, up 48.2 percent year on year.
In a reading of the August industrial production data, Jiang Yuan, deputy director of the Industry department of the National Bureau of Statistics, noted that growth in high-tech manufacturing had picked up significantly. In August, the added value of high-tech manufacturing grew by 18.3% year on year, 2.7 percentage points faster than that of the previous month, and 13.0 percentage points faster than that of all regulated industries, contributing significantly to industrial growth and playing a stronger role in driving it. Driven by accelerated 5G construction, growing demand for consumer and automotive electronics, and higher industrial automation rates, the output of emerging products has maintained rapid growth. In August, the output of industrial robots, integrated circuits and service robots rose 57.4%, 39.4% and 38.7% year-on-year, respectively.
For motor iron core of the industry concerned, every man kills his love, spokesman for the National Bureau of Statistics, said the growth of automobile industry is restricted by some, such as chip shortage of common concern to everyone, and some policy adjustment, in the short term may cause a certain restriction to the development of automobile industry, such as a delivery cycle is long, the phases of the rising cost of such effects. However, we should also see that there is a big gap between China's thousand car ownership and that of developed countries, and the development potential of the automobile industry is still relatively large. In the short term, the production of integrated circuits is gradually accelerating under the market signal of rising demand and rising price. Of course, we must also recognize that the external environment is complex and severe, and it will take time for global production capacity to recover. Generally speaking, the auto industry has great potential for long-term development.
Jiang said that overall, industrial production has maintained steady growth with progress, new drivers of growth have accelerated, and industrial development is resilient. At the same time, the epidemic and flood situation have had a certain impact on industrial production in some regions, the chip shortage is still prominent, the price of industrial products continues to run at a high level, and the cost pressure of enterprises is increasing. Going forward, we will continue to coordinate epidemic prevention and control with economic and social development, take effective measures to ensure supply and price stability, strengthen collaborative innovation upstream and downstream of the industrial chain, unblock economic and social cycles, strengthen the internal driving force of the industrial economy, and further consolidate the foundation for stability and recovery.