China's industrial sector grew at a slower pace in July, with the total value added of large industrial enterprises increasing by 5.1 per cent year-on-year, slightly lower than the previous month's growth rate of 5.3 per cent. The mining sector grew by 4.6 per cent, while manufacturing expanded by 5.3 per cent. The production and supply of electricity, thermal power, gas, and water increased by 4.0 per cent. Notably, equipment manufacturing and high-tech manufacturing surged by 7.3 per cent and 10.0 per cent, respectively, outpacing the overall industrial growth, according to a report published by the National Bureau of Statistics on Thursday. In terms of ownership, state-holding enterprises saw a 3.5 per cent increase in value added, while shareholding enterprises grew by 5.4 per cent. Enterprises funded by foreign investors or those from Hong Kong, Macao, and Taiwan recorded a 4.2 per cent growth, and private enterprises expanded by 5.2 per cent. The production of new-energy vehicles, integrated circuits, and 3D printing devices surged by 27.8 per cent, 26.9 per cent, and 25.3 per cent year-on-year, respectively, the report revealed. The Manufacturing Purchasing Managers' Index stood at 49.4 per cent in July, while the Production and Operation Expectation Index reached 53.1 per cent. Attribution: National Bureau of Statistics of China (NBS) report
