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Chinese New Energy Car Has the Fastest Growth Amid Stabilized Chinese Industrial Economy in 2021
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2022-02-07
The data released on January 17 this year by National Bureau of Statistics of China shows that last year China's manufacturing industry grew 5.8% over the previous year and that the average growth for the respective past two years was 6.1%. In December 2021, the country's manufacturing industry grew 4.3% and this was the third month in succession with upward recovery. High-tech manufacturing industry and equipment manufacturing industry grew 18.2% and 12.9% respectively.
The export delivery at high water mark drives the production of industrial products. The industrial sector has returned to the pre-pandemic level, but the recovery is imbalanced. Some mid and downstream companies are still dealing with supply shortages, lack of critical components/materials, logistics cost pressures, and regional power cuts. China's manufacturing for 2022 is expected to stay within a stable growth range of 5.5% to 6.0%.
The highlight of China's manufacturing industry in 2021 was the explosive new energy car growth with 3-digit consecutive growth. The data by China Association of Automobile Manufacturers shows that new energy car sales grew 1.6 times in 2021, taking up 13.4% of the market share, up 8 percentage points over the first half of 2021. Besides new energy cars, the automotive industry on the whole ditched the negative growth of -7.1% and grew 3.4% in December last year, ending the 7-month consecutive drop.
中國工業經濟回穩
新能源車
Chinese new energy car
stabilized Chinese industries
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