SCIO briefing on China's economic performance in April 2025

National Business Daily:

Just now, you mentioned multiple sets of data on the value added of industrial enterprises above designated size across the country. What are the characteristics of the value added of industrial enterprises above designated size nationwide in April? How do you evaluate the future development trend of the country's industrial production? Thank you.

Fu Linghui:

Thank you for your questions. Industrial production is essential for stable economic growth. Since the beginning of this year, with the continued effectiveness of existing policies and the effective implementation of new policies, the policy mix has continued producing effects. Industrial production has maintained rapid growth, and the transformation of industrial development toward high-end, intelligent and green has provided strong support for high-quality economic development. The characteristics are as follows:

First, industrial production has maintained rapid growth. The combined effects of macro policies continue to emerge, and various regions are increasing efforts to promote industrial development, and industrial production has maintained steady and rapid growth. In April, the value added of industrial enterprises above designated size increased by 6.1% year on year. As mentioned earlier, this growth rate is relatively high among the monthly growth rates since last year. Expansion was reported in over 80% of China's major industrial sectors in April, with 36 out of 41 registering year-on-year growth.

Second, the industrial transformation and upgrading is continuing. The trend of high-end industrial development is clear, and the high-tech manufacturing industry has a good growth momentum. In April, the value added of high-tech manufacturing above designated size increased by 10% year on year, significantly faster than the growth of industrial enterprises above designated size. From the perspective of industries, the value added of integrated circuit manufacturing and optoelectronic device manufacturing increased in April by 21.3% and 19%, respectively. In terms of products, the output of 3D printing equipment and industrial control computers and systems increased in April by 60.7% and 29.5%, respectively.

Third, the new momentum of industrial growth continues to strengthen. The intelligent and green transformation of industry is accelerating, and related industries and products are growing rapidly. The development trend of the new energy industry is relatively good. In April, the output of NEVs and lithium-ion vehicle batteries increased by 38.9% and 61.8%, respectively. The production of intelligent products grew rapidly. In April, the value added of the intelligent unmanned aircraft manufacturing and intelligent vehicle equipment manufacturing increased by 74.2% and 29.3%, respectively, which was significantly faster than the growth rate of industrial enterprises above designated size. The output of industrial robots increased by 51.5%.

Fourth, the driving effect of policies for the large-scale renewal of equipment and the trade-in of consumer goods is evident. The intensification and expansion of the policies for the large-scale renewal of equipment and the trade-in of consumer goods has promoted technological upgrading in industries and the expansion of market demand, thereby facilitating the growth of industrial production. Driven by the equipment renewal policy, the output of primary processing machinery for agricultural products and special packaging equipment maintained double-digit growth in April; Driven by the trade-in policy, the output of products such as electric bicycles and LCD screens maintained rapid growth in April.

Overall, since the beginning of this year, industrial production has grown steadily and rapidly. This can be attributed to the continuous release of the effectiveness of macro policies, the boost from major national projects and programs, including those aligned with major national strategies, building up security capacity in key areas, and the large-scale renewal of equipment and the trade-in of consumer goods to stimulate the potential of domestic demand, as well as the influence of the continuous deepening of industrial transformation and upgrading and the enhanced momentum of innovative development. Looking into the future, the high-end, intelligent and green industrial development trend is clear, and new quality productive forces are constantly being cultivated and strengthened. However, it should also be noted that the prices of industrial products are still at a low level, and some enterprises in certain industries are still facing many difficulties in production and operation. In the next stage, we should continue to expand domestic demand, implement various policies to support industrial development, promote the integrated development of scientific and technological innovation and industrial innovation, optimize the industrial structure, accelerate the transformation and upgrading of traditional industries, cultivate and strengthen emerging industries, and promote the sustained and healthy development of industry. Thank you.