Mao Weiming, Vice Minister of the Ministry of Industry and Information Technology of the People’s Republic of China, said that China has been the world’s No. 1 manufacturing country for several consecutive years and it is really not easy to have such a fast growth on such a large basis and under such circumstance. In 2014, the added value of national industrial enterprises above designated size saw a year-on-year increase of 8.3%, while the added value of the manufacturing industry saw a year-on-year increase of 9.4%; the total profit of these enterprises reached RMB6.47 trillion, up 3.3%; the profit of the manufacturing industry increased by 6.5%; the annual telecommunication business volume reached RMB1.8 trillion, up 16.1% year-on-year; the annual information consumption reached RMB2.8 trillion, up 18%.

From the perspective of production status, the high-tech industry of China has a fast development. The added value of the industry increased by four percentage points over the previous year, and the proportion of the industry in the overall industrial economy of China increased from 12.1% to 12.8%. Compared with that, the steel, cement and sheet glass industries, which are among the five fields in need of resolving production overcapacity and eliminating outdated production capacity under the commitment of the government work report, respectively saw a slight increase of 0.9%, 1.8% and 1.1%.

Early last year, China made a commitment to cut steel production by 27 million tons, cement production by 42 million tons and sheet glass production by 35 million weight cases. Up to the end of last year, China actually cut the outdated steel production by 31.1 million tons, cement production by 81 million tons and sheet glass production by 37.6 million weight cases, overfulfilling the targets.

This year, the industrial development of China still faces a complicated situation. Mao said there are many uncertainties at international level in 2015. The world economy is still at a stage for in-depth adjustment after financial crisis. The growth may be slightly faster. However, from an overall perspective, there might not be a strong recovery or obvious change in world economy. In China, the reform has brought about increasing benefits. The macro-control measures are more targeted, practicable and effective. Innovation has become a driving force at all social levels. The restructuring have been increasingly accelerated. The strong tenacity and huge potential of the Chinese economy provide enough space and favorable environment for a steady and fast development of industrial economy.

Source: www.trading.net.cn, January 28, 2015