In September, the added value of industries above designated size actually increased by 4.5% year-on-year, which is the same as last month. From January to September, the added value of industries above designated size increased by 4.0% year-on-year, an increase of 0.1 percentage points compared to January to August. From the perspective of driving force, policy support is expected to drive a mild improvement in domestic investment and consumer demand. There is still room for improvement in external demand against the backdrop of relative resilience and low base in the European and American economies. The marginal improvement in domestic and external demand may drive the production side to maintain a recovery trend. In terms of industries, in September, 26 out of 41 major industries maintained year-on-year growth in added value. Among them, coal mining and washing industry increased by 1.4%, oil and natural gas mining industry by 3.4%, chemical raw materials and chemical products manufacturing industry by 13.4%, automobile manufacturing industry by 9.0%, electrical machinery and equipment manufacturing industry by 11.5%, and rubber and plastic products industry by 6.0%.
In September, the chemical raw material and chemical product manufacturing industry, as well as the rubber and plastic manufacturing industry, maintained growth, but there was a differentiation in the growth rate between the two. The former narrowed by 1.4 percentage points compared to August, while the latter expanded by 0.6 percentage points. In mid September, polyolefin prices hit a new high since the bottom of the year and began to decline, but they are still fluctuating and rebounding in the short term.
Post time: Nov-13-2023