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."

Im Jahr 2022 wird das Unternehmen der Verbesserung seiner digitalen Fähigkeiten und der Nutzung neuer Vertriebskanäle wie Live--Streaming-Plattformen Priorität einräumen, um die Betriebskosten zu senken und potenzielle Nachfrage zu erschließen, sagte 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, Minister für Industrie und Informationstechnologie, sagte in einem früheren Interview mit Xinhua, dass die Gewährleistung eines stabilen industriellen Wachstums, insbesondere eines guten Starts im ersten Quartal 2022, als wichtigste Aufgabe angesehen werden sollte.

Um eine stabile Expansion zu gewährleisten, wurden mehrere Maßnahmen eingeführt, darunter die Förderung der Entwicklung kleiner und mittlerer- Unternehmen, die Verbesserung der Widerstandsfähigkeit der Lieferkette und die volle Nutzung der Rolle aufstrebender Sektoren wie New Energy Vehicles (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.

Mit Blick auf die Zukunft beabsichtigt China, das Wachstum dieses boomenden Sektors weiter zu fördern, indem Chipknappheit behoben, unterstützende Einrichtungen wie Batteriewechselstationen verbessert und das Recycling und die Nutzung von NEV-Power-Batterien durchgeführt werden.