China's Industrial Economy Begins Year Of The Tiger With Vigor - Industry News - News

With motors rotating and machines roaring, China's industrial firms started the first week after the Chinese Lunar New Year holiday full of vim and vigor.

Facing multiple challenges in 2022, Rong Juchuan, founder of the Beyond Group, a textile company headquartered in Ningbo, East China's Zhejiang province, said the company "can't just wait, but should take the initiative."

Árið 2022 mun fyrirtækið forgangsraða því að bæta stafræna getu sína og nýta nýjar sölurásir eins og-streymiskerfi í beinni til að lækka rekstrarkostnað og nýta hugsanlega eftirspurn, sagði Rong.

Recent economic data has echoed such enthusiasm for business. The purchasing managers' index (PMI) for China's manufacturing sector, a key economic barometer, came in at 50.1 in January, staying in the expansion territory for three months in a row.

In particular, manufacturing companies' confidence was on the rise, with the sub-index for production and operation activity expectations at 57.5, up 3.2 percentage points from a month earlier.

China's economic performance in the first quarter is expected to beat market expectations, said Li Chao, chief economist of Zheshang Securities, citing a PMI remaining above the boom-bust line for three consecutive months and steady credit growth.

The resilience of China's industrial economy was also reflected in other barometers, including the total consumption of electricity.

One of the country's industrial powerhouses, East China's Jiangsu province, saw its total electricity use rise 18.27 percent year-on-year during the holiday, while Hubei, a key manufacturing base in China, reported a 36.45-percent year-on-year increase in power use.

According to an estimate of the China Electricity Council, the country's total electricity consumption will rise by 5 percent to 6 percent year-on-year in 2022.

In the face of headwinds such as high commodity prices and supply chain challenges, China has prioritized stable growth for industrial development in 2022, which is the "ballast stone" of the macroeconomic market.

Xiao Yaqing, iðnaðar- og upplýsingatækniráðherra, sagði í fyrra viðtali við Xinhua að það ætti að vera mikilvægasta verkefnið að tryggja stöðugan iðnaðarvöxt, sérstaklega góða byrjun á fyrsta ársfjórðungi 2022.

Til að tryggja stöðuga stækkun hafa margar ráðstafanir verið settar á laggirnar, þar á meðal að efla þróun lítilla og meðalstórra-fyrirtækja, efla seiglu aðfangakeðjunnar og gefa fullan þátt í hlutverki nýrra geira eins og nýrra orkutækja (NEVs) .

The ministry aims to incubate about 3,000 "little giant" firms this year, referring to small enterprises in their early stage of development and focusing on high-end technologies.

"In 2022, more importance will be attached to promoting collaboration and innovation among small, medium-sized and large enterprises," said Xu Xiaolan, vice-minister of industry and information technology.

The NEV market could be another driving force shoring up China's industrial growth. The country's NEV sales ranked first globally for a seventh straight year in 2021.

Þegar horft er fram á veginn stefnir Kína að því að auðvelda enn frekar vöxt þessa blómstrandi geira með því að létta á flísaskorti, bæta stuðningsaðstöðu eins og rafhlöðuskiptastöðvar og framkvæma endurvinnslu og nýtingu á NEV rafhlöðum.