Beijing (TDI): China’s economy continued to show stable growth momentum in November, supported by solid progress in advanced manufacturing and emerging industries, according to data released on Monday by the National Bureau of Statistics (NBS).
The NBS reported that value added by industrial enterprises rose 4.8 percent year-on-year last month. Growth was notably stronger in the manufacturing of equipment and high-tech products, with output in the equipment manufacturing sector increasing 7.7 percent and high-tech manufacturing expanding by 8.4 percent. Both sectors outperformed overall industrial growth by a wide margin.
Production of advanced technologies also surged. Output of 3D printing equipment more than doubled, rising 100.5 percent year-on-year, while industrial robot production increased by 20.6 percent. New-energy vehicle output also posted solid growth of 17 percent compared to the same period last year.
Consumer spending showed moderate improvement. Total retail sales of consumer goods reached 4.39 trillion yuan in November, marking a 1.3 percent year-on-year increase. For the first 11 months of the year, retail sales totaled 45.6 trillion yuan, up 4 percent, while online retail sales climbed 9.1 percent to 14.46 trillion yuan.
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Investment trends remained mixed. Fixed asset investment, excluding rural household spending, declined 2.6 percent year-on-year between January and November. However, investment in high-tech industries continued to expand rapidly, with spending on information services rising 29.6 percent and investment in aviation, aerospace, and equipment manufacturing increasing by 19.7 percent.
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The employment situation remained broadly stable. The nationwide surveyed urban unemployment rate stood at 5.1 percent in November, unchanged from October. From January to November, the average surveyed urban unemployment rate across China remained at 5.2 percent, according to official data.
Overall, the figures suggest that while challenges persist in certain areas, China’s economy continues to demonstrate resilience, driven by innovation, advanced manufacturing, and steady consumer demand.
