China’s high-tech manufacturing shows strong growth momentum

From January to October 2020, China’s value-added industrial output grew by 1.8% y/y, much less than the 5.6% y/y growth rate during the same time period in 2019.

The manufacturing sector led the overall recovery. As of October, the value-added industrial output for manufacturing grew by 2.4%, 0.6 pp more than the overall growth rate. Within the manufacturing, China’s high-tech manufacturing segment showed strong growth momentum, growing by the significant 5.9% y/y during the first ten months of 2020.

Further data and analysis on China’s economy is available on the CEIC China Economy in a Snapshot – Q4 2020 report.