China's industrial production maintains growth trend in Jan-May: Chinese report

Thanks to the effects of various macroeconomic policies, China's manufacturing industry has made progress in becoming high-end, smart and green in the first five months of this year, and the high-quality development of industry continues to achieve new results.
In the first five months of the year, China's industrial production maintained a relatively rapid growth rate, with the added value of industrial enterprises above a certain size (enterprises with annual main operating revenues of 20 million yen or more) growing 6.3% year-on-year.
In addition, looking at the added value of industrial companies in May by type of industry, the added value of 35 out of 41 industries increased from the same month of the previous year. Of these, the railway, ship, aircraft and spacecraft, and electronics industries increased.
The machinery and equipment industries maintained double-digit growth. The green transformation of industry accelerated. In the first five months of the year, the amount of electricity generated by wind power in industries of a certain size or larger increased 11.1% year-on-year.
Photovoltaic power generation increased by 18.3% year-on-year. In addition, production of new energy vehicles increased by 40.8% year-on-year, and production of solar cells increased by 18.3% year-on-year.
At the same time, the “two new” policy (a policy encouraging large-scale equipment renewal and replacement of consumer goods) gained further effectiveness.
Thanks to the government's gradual equipment renewal policy, investment in purchasing equipment and machinery in the first five months of the year increased 17.3% year-on-year, with the growth rate exceeding that of overall investment by 13.6 percentage points.
Due to the consumer goods replacement policy, tablet PC production in May increased 30.9% compared to the same month last year, and electric bicycles increased 20%.
1.5% increase, while 5G-compatible smartphones increased by 13.4%.