China sees up-tick in industrial performance in November

China's value-added industrial output, an important economic indicator, grew by 5.4 percent year-on-year in November, 0.1-percentage points higher than a month earlier, or up by 0.46 percent month-on-month, data released by the National Bureau of Statistics (NBS) revealed on Monday. 

The value-added output of the mining sector increased by 4.2 percent, with the manufacturing sector rising by 6.0 percent and electricity, heat, gas, and water supply industries grew up by 1.6 percent.

Last month, the value added of the equipment manufacturing industry rose 7.6 percent year-on-year, an acceleration of 1.0 percentage point from the previous month, contributing nearly 50 percent to the growth of overall industrial added value, NBS Spokesperson Fu Linghui told a press conference on Monday.

In addition, the value added of the high-tech manufacturing sector rose by 7.8 percent, higher than the average of all industrial sectors by 2.4 percentage points, according to the NBS.

The output of new-energy vehicle sector rose by 51.1 percent in November, while industrial robots production increased by 29.3 percent and semiconductors output was up by 8.7 percent year-on-year.

Thanks to the synergy created by existing supportive policies and the incremental roll-out of new stimulus, domestic demand hiked and factory production was up, effectively boosting market confidence.

Government pro-growth policies including the implementation of major national strategies and the building up of capacity in major industrial sectors, as well as large-scale equipment upgrading and big-ticket consumer goods trade-in programs have helped accelerate production by unleashing pent-up market demand and driving up private investment and output of consumer goods, Fu said.