China’s industrial output maintains steady growth in November

18 December 2017

China’s industrial output posted steady growth in November, with progress in structural upgrading, official data showed on Thursday. The output expanded 6.1% year on year in November, slightly down from a 6.2% increase in October, according to the National Bureau of Statistics (NBS).

Looking at month-on-month basis, the industrial output edged up 0.48% from October’s figure.

Corporate profits remained strong, with total profits of industrial firms above the designated size surging 23.3% year on year in the first 10 months, up from 22.8% in the first nine months.

Furthermore, the profit rate for the firms’ principal business climbed to 6.24% in the first 10 months from 5.69% a year earlier.

In November, the output growth of the high-tech industry and equipment manufacturing industry stayed above 10% and 14%, respectively.

Leverage continued to go down, with the debt ratio of industrial firms above the designated size falling 0.5 percentage points from a year earlier to 55.7% at the end of October.

The industrial sector has also become greener, with the output growth of six major energy-consuming industries slowing 0.9 percentage points in November from October