In the January-February period this year, value-added industrial output of the ferrous metal smelting and rolling sector in China recorded a 21.6 percent increase year on year, 10.9 percentage points faster compared to that recorded in December last year amid effective control of the Covid-19 pandemic and improved demand from downstream industries, as announced by China's National Bureau of Statistics (NBS).
China's overall value-added industrial output increased by 35.1 percent year on year in the first two months this year, shifting from a year-on-year decline of 13.5 percent in the same period last year.
In the first two months this year, of the 41 industrial sectors in China, 40 witnessed year-on-year increases in value-added industrial output. In the given period, outputs in the mining and manufacturing sectors increased by 17.5 percent and 39.5 percent, year on year, respectively, 12.6 percentage points and 31.8 percentage points faster compared to December last year.
$1 = RMB 6.501