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."

El 2022, l'empresa prioritzarà la millora de les seves capacitats digitals i l'aprofitament de nous canals de venda, com ara les plataformes de reproducció en directe-per reduir els costos operatius i aprofitar la demanda potencial, va dir 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, ministre d'Indústria i Tecnologia de la Informació, va dir en una entrevista anterior amb Xinhua que assegurar un creixement industrial estable, especialment un bon començament el primer trimestre del 2022, hauria de ser la tasca més important.

Per garantir una expansió estable, s'han implementat múltiples mesures, com ara l'impuls del desenvolupament de les petites i mitjanes empreses{0}}, la millora de la resiliència de la cadena de subministrament i el ple joc del paper de sectors emergents com els vehicles d'energia nova (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.

De cara al futur, la Xina té com a objectiu facilitar encara més el creixement d'aquest sector en auge alleujant l'escassetat de xips, millorant les instal·lacions de suport com les estacions d'intercanvi de bateries i realitzant el reciclatge i la utilització de bateries d'energia NEV.