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."

În 2022, compania va acorda prioritate îmbunătățirii capacităților sale digitale și valorificării de noi canale de vânzare, cum ar fi platformele de streaming live-, pentru a reduce costurile de operare și pentru a profita de cererea potențială, a spus 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, ministrul industriei și tehnologiei informației, a declarat într-un interviu anterior acordat Xinhua că asigurarea unei creșteri industriale stabile, în special un început bun în primul trimestru al anului 2022, ar trebui să fie cea mai importantă sarcină.

Pentru a asigura o expansiune stabilă, au fost implementate mai multe măsuri, inclusiv stimularea dezvoltării întreprinderilor mici și mijlocii{0}}, sporirea rezistenței lanțului de aprovizionare și acordarea deplină a rolului sectoarelor emergente, cum ar fi vehiculele noi energetice (NEV) .

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.

Privind în perspectivă, China își propune să faciliteze și mai mult creșterea acestui sector în plină expansiune prin ameliorarea penuriei de cipuri, îmbunătățirea facilităților de sprijin, cum ar fi stațiile de schimb de baterii, și prin reciclarea și utilizarea bateriilor NEV.