The industrial output in China achieved an annual growth of 3.8% during the first half of 2023.
According to the Chinese state news agency Xinhua, data released by the National Bureau of Statistics of China revealed that the industrial output grew by 4.4% annually in June, following a growth rate of 3.5% in May.
According to the data, China recorded a growth of 6.4% annually in the output of the services sector during the first half of the year, following a growth rate of 1% in the first quarter.
During the first half of the year, the entertainment and hospitality sector recorded a remarkable growth rate of 15.5%. While the software and IT services sector also saw a significant increase with a growth rate of 12.9%.
The industrial output is used as a measure of the activity of large companies whose annual total business volume is not less than 20 million Yuan (approximately 2,8 million dollars).
