China's industrial companies' added value up 6.2% year-on-year in December: Chinese report

According to a recent announcement by the National Bureau of Statistics of China, by December 2024, industrial enterprises of a certain size or larger (enterprises with annual main operating revenues of 20 million yen or more) will receive a 10% tax credit.
Value added increased by 6.2% compared to the same month last year, and by 0.64% compared to the previous month. By the three major sectors, mining and manufacturing increased by 2.4% compared to the same month last year, manufacturing increased by 7.4%, and electricity and heat energy increased by 2.4%.
By type of enterprise, added value of state-owned holding companies increased by 3.1%, joint-stock companies by 6.5%, and foreign-invested enterprises, Hong Kong, Macau and Taiwan-invested enterprises by 5.6%.
By industry, the added value of 34 out of 41 industries maintained an increase from the same month of the previous year.
Of these, production of 396 items increased from the same month last year. In particular, production of automobiles increased by 15.2% to 3.499 million units, of which production of new energy vehicles increased by 43.2% to 1.647 million units.
In addition, exports from industrial companies of a certain size or larger increased by 8.8% to 1.4394 trillion yen (approximately 31 trillion yen).
Meanwhile, in 2024, the added value of industrial enterprises of a certain size or larger is expected to increase by 5.8% year-on-year.
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