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Zhejiang’s Industry Maintains a Moderate but Stable and Sound Growth

On August 22, reporters learned from Zhejiang Provincial Economic and Information Technology Commission that from January to July, 2017, the added value of industrial enterprises above a designated scale increased by 7.7% year on year and 1.3% higher than that of the nation, the provincial industry generally maintained a moderate but stable and sound growth.
The industrial operational quality improved steadily and the contribution of output value of new products increased. In the first half of the year, the spending of scientific activities in the added value of industrial enterprises above a designated scale reached 48.54 billion yuan with a year-on-year increase of 22.9%; the increased science and technology input boosted rapid growth of new products, in the first 7 months, the output value of new products of industrial enterprises above the designated size totaled 1443.63 billion yuan with an increase of 20.8%, 7.9% higher than total output value of industry; the output value of new products constituted 33.6% of the total with an increase of 2.2% more than that of the same period last year. In particular, the output value of new products in communications equipment, car manufacturing and instruments manufacturing ranked the highest, reaching 60.7%, 59.1% and 50.2% respectively.
Old and new economic drivers coordinately advanced the industrial profit growth. The profits of industrial enterprises above designated scale reached 217.2 billion yuan, rose by 14.4% in the first half of this year. The profits of high-tech, equipment manufacturing and strategic emerging industries increased 17%, 20.6% and 22.7 % respectively, higher than industrial companies above the designated scale. Meanwhile, the total profits of 10 traditional manufacturing industries including textiles, garments, leathers, chemicals, chemical fiber, paper making, rubber& plastics, building materials, nonferrous metals processing, agricultural and non-staple food processing increased by 24.5%, 10.1% higher than the growth rate of industrial enterprises above a designated scale.
The industrial private investment was on the up and the entrepreneurs had more confidence in development. In the first 9 months, the increase of private investment was bettering, the industrial private investment amounted to 410.47 billion yuan, rising by 8.9% year on year, 0.5% higher than that in the first half of 2017. The investment of manufacturing industry had a year-on-year growth of 5.8%, 1.1% higher than that in the first half of 2017, among which the industries like car manufacturing, electrical machinery, nonmetals, communications equipment and garments grew faster, contributed 4.9% to the provincial industrial investment growth.
Large enterprises and micro and small enterprises have become the backbones to pull the provincial industrial growth. Since the second quarter of this year, the growth rate of large enterprises has expanded monthly, the growth rate of July reached 11.8%. As for the cumulative growth rate, the growth rates reached 8.7% and 8.3% respectively, higher than the average growth rate of industrial enterprises above a designated scale, the contributing rate to the provincial industrial growth accounted for 77.2%.
Besides, the elements like electricity usage and freight have shown positive signs. The industrial electricity demand is on rise. In the first 7 months, the provincial power consumption of industry has reached 170.55 billion kilowatts hours, with a year-on-year increase of 8.9%, among which the cumulative power consumption of manufacturing industry amounted to 137.83 billion kilowatts hours, increasing by 7.7%, the freight transportation kept stable. While the total amount of freight transportation has reached 1.35 billion tons, increasing by 15.1% in the first 7 months.


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