SMM

On August 15, data from the National Bureau of Statistics showed that in July, the national industrial added value of enterprises above the designated size by 3.7% YoY, an increase of 0.01% MoM. From the perspective of the industry category, mining added value increased by 1.3% YoY, manufacturing by 3.9 %, and electricity, heat, gas, and water production, and supply by 4.1%. The added value of the raw material manufacturing industry increased by 8.8% YoY, 2.0 percentage points faster than the previous month. From the perspective of enterprise types, the added value of state-owned holding enterprises increased by 3.4% YoY, Joint-stock enterprises increased by 5.0%, enterprises invested by foreign investors and Hong Kong, Macao, and Taiwan enterprises decreased by 1.8%, and private companies grew by 2.5%. From the perspective of products, the output of solar cells and new energy vehicle products increased by 65.1% and 24.9% Yoy, respectively.