According to the National Bureau of Statistics of China (NBS) China’s industrial sector continued its steady recovery in October 2025, with official data showing a 4.9% year-on-year increase in the total value added of industrial enterprises above the designated size. The growth figure adjusted for price factors reflects the continued resilience of the country’s manufacturing and energy-related industries despite global uncertainties.
On a month-on-month basis, industrial value added rose 0.17%, underscoring stable short-term momentum. For the January–October period, cumulative industrial output expanded 6.1% from a year earlier, signalling consistent performance across key production sectors.
Mining, Manufacturing and Utilities Lead Gains
Across the three major industrial sectors, all recorded year-on-year growth in October:
- Mining industry: +4.5%
- Manufacturing industry: +4.9%
- Electricity, thermal power, gas and water supply: +5.4%
Manufacturing remained the core driver, supported by strong performance in machinery, electronics, and automotive production.
State-Owned Enterprises Outperform
When measured by ownership type, state-holding enterprises posted the strongest expansion:
- State-holding enterprises: +6.7%
- Share-holding enterprises: +5.2%
- Foreign-funded and Hong Kong/Macau/Taiwan-funded enterprises: +4.0%
- Private enterprises: +2.1%
The data indicates comparatively slower growth among private firms but solid overall contributions from all categories.
29 of 41 Major Industries Report Growth
Industrial output broadened across a wide range of sectors, with 29 of 41 major industries seeing year-on-year increases. Notable performers included:
- Automotive manufacturing: +16.8%
- Railway, ship, aerospace & transport equipment: +15.2%
- Electronic equipment manufacturing: +8.9%
- Chemical raw materials & products: +7.1%
- General-purpose machinery: +6.9%
- Non-ferrous metal smelting: +3.7%
Some industries, however, recorded contractions, such as non-metallic mineral products (-3.2%) and beverages & refined tea manufacturing (-1.9%).
Strong Output in Electronics, Energy and New Energy Vehicles
Out of 623 products monitored, 313 recorded higher output compared to October 2024.
Key product trends included:
- Ethylene: 3.14 million tons (+11.7%)
- Motor vehicles: 3.279 million units (+11.2%)
- New energy vehicles (NEVs): 1.710 million units (+19.3%
- Electricity generation: 800.2 billion kWh (+7.9%)
- Crude oil processing: 63.43 million tons (+6.4%)
Meanwhile, traditional materials such as rolled steel (-0.9%) and cement (-15.8%) saw declines amid sectoral adjustments and real estate market softness.
Sales Ratio Slips; Export Delivery Value Declines
The product sales ratio, a measure of demand and inventory flow, reached 96.4% in October, down 1.0 percentage point year on year.
Export performance softened slightly:
- Export delivery value: 1.3245 trillion yuan
- Change: -2.1% year on year
The decline reflects continued external demand pressures and global trade headwinds.
Shahriena Shukri is a journalist covering business and economic news in Malaysia, providing insights on market trends, corporate developments, and financial policies. More about Shahriena Shukri.
