China’s Economic Activity Weakened More Than Expected in April

China’s value-added industrial output grew by 6.5% in April from a year earlier, the National Bureau of Statistics said Monday. The figure is 1.1 percentage points lower than that of last month, or 0.5 percentage point higher than that in April last year, and well below what many economists had predicted.

An analysis by types of ownership showed that the  value-added industrial output of state holding enterprises went up by 5.6 percent year-on-year; collective enterprises up by 1.9 percent; share-holding enterprises up by 6.9 percent; and enterprises funded by foreign investors or investors from Hong Kong, Macao and Taiwan up by 5.5 percent.

The value-added industrial output of mining industry was down by 0.4 percent year-on-year; manufacturing up by 6.9 percent and production and supply of electricity, heat, gas and water up by 7.8 percent. The industrial structure continued to improve.

The value added of high-tech industry and equipment manufacturing industry grew by 12.3 percent and 10.3 percent year-on-year respectively, 5.8 percentage points and 3.8 percentage points higher than that of the industrial enterprises.

The sales ratio of industrial enterprises above designated size was 97.6 percent. In April, the total output of the industrial enterprises was up by 0.56 percent month-on-month.

In the first four months, the value-added industrial output of the industrial enterprises above designated size grew by 6.7 percent year-on-year.

In the first three months of 2017, the total profits made by industrial enterprises  was 1,704.3 billion yuan, up by 28.3 percent year-on-year.

The costs for per-hundred-yuan revenue from principle business of industrial enterprises above designated size reached 85.25 yuan, down by 0.15 yuan year-on-year.

The profit rate from principle business was 6.13 percent, up by 0.68 percentage point year-on-year. At the end of March, the debt-to-asset ratio of industrial enterprises above designated size was 56.2 percent, a year-on-year decrease of 0.7 percentage point.


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