China's Industrial Economy Begins Year Of The Tiger With Vigor

Feb 17, 2022

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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."

Rong, 2022'de şirketin işletme maliyetlerini düşürmek ve potansiyel talebi karşılamak için dijital yeteneklerini geliştirmeye ve canlı-akış platformları gibi yeni satış kanallarından yararlanmaya öncelik vereceğini söyledi.

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.

Sanayi ve bilgi teknolojisi bakanı Xiao Yaqing, Xinhua ile yaptığı önceki bir röportajda, istikrarlı endüstriyel büyümenin sağlanmasının, özellikle 2022'nin ilk çeyreğinde iyi bir başlangıç ​​yapılmasının en önemli görev olarak belirlenmesi gerektiğini söyledi.

İstikrarlı bir genişleme sağlamak için, küçük ve orta- ölçekli işletmelerin gelişiminin hızlandırılması, tedarik zinciri esnekliğinin artırılması ve yeni enerji araçları (NEV'ler) gibi gelişmekte olan sektörlerin rolüne tam anlamıyla yer verilmesi dahil olmak üzere çok sayıda önlem hayata geçirildi. .

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.

İleriye dönük olarak, Çin, çip eksikliklerini gidererek, pil değiştirme istasyonları gibi destek tesislerini geliştirerek ve NEV güç pillerinin geri dönüşümünü ve kullanımını gerçekleştirerek bu gelişen sektörün büyümesini daha da kolaylaştırmayı hedefliyor.
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