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."

Em 2022, a empresa priorizará a melhoria de seus recursos digitais e o aproveitamento de novos canais de vendas, como-plataformas de streaming ao vivo, para reduzir os custos operacionais e aproveitar a demanda potencial, disse 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, ministro da indústria e tecnologia da informação, disse em uma entrevista anterior à Xinhua que garantir um crescimento industrial estável, particularmente um bom começo no primeiro trimestre de 2022, deve ser definido como a tarefa mais importante.

Para garantir uma expansão estável, várias medidas foram implementadas, incluindo impulsionar o desenvolvimento de pequenas e médias-empresas, aumentar a resiliência da cadeia de suprimentos e dar plena importância ao papel de setores emergentes, como veículos de nova energia (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.

Olhando para o futuro, a China pretende facilitar ainda mais o crescimento deste setor em expansão, aliviando a escassez de chips, melhorando as instalações de suporte, como estações de troca de baterias, e realizando a reciclagem e utilização de baterias de energia NEV.