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China High-Tech, Equipment Manufacturing Sectors See Robust Growth in Q1

China's high-tech, equipment manufacturing sectors see robust growth in Q1

This is part of a transcript, from China SCIO, of the press conference held on Tuesday about the development of China industry and information technology in the first quarter of 2021:

China’s high-tech and equipment manufacturing sectors posted rapid growth in the first quarter of 2021, up 31.2% and 39.9% year on year respectively, both higher than the overall growth of the manufacturing sector, according to a press conference held by the State Council Information Office on April 20.

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Huang Libin, spokesperson of the Ministry of Industry and Information Technology (MIIT) and director general of the MIIT’s Performance Inspection and Coordination Bureau, made the following remarks at the press conference.

New industries and new products maintained strong momentum of growth in the first quarter (Q1).

In Q1, the value-added output of high-tech and equipment manufacturing industries above the designated size expanded 31.2% and 39.9% year on year respectively, with a two-year average annual growth of 12.3% and 9.7% respectively, both higher than the overall growth of the manufacturing sector.

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Investment in the high-tech manufacturing sector increased by 41.6% year on year, with a two-year average annual growth of 10.7%, a notably higher rate than the manufacturing sector as a whole.

The output of smart low-carbon products grew rapidly, as the output of new energy vehicles and industrial robots increased by 310% and 110% year on year respectively in Q1.

China’s high-tech, equipment manufacturing sectors see robust growth in Q1

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