China's industrial upgrading continues apace with change of labor structure

Time:2019-12-11 09:39:56      Source:ChinaDaily.com

China's industrial economy is experiencing a stable run with high-quality development of the manufacturing sector and a change of labor structure thanks to the supply-side structural reform.

The number of industrial enterprises reached 3.45 million by 2018, with an average annual increase of 7.4 percent since 2013. The industrial assets stood at 139.3 trillion yuan ($19.79 trillion), up 5.8 percent annually during the same period, according to the National Bureau of Statistics (NBS).

The growth rate of the number of enterprises and asset scale in the equipment manufacturing sector topped all industrial sectors during the 2013-2018 period, up 9.6 percent and 8.4 percent per year, respectively.

The number of employees in industrial sectors in 2018 was 115.22 million, with a yearly decrease of 3.9 percent since 2013, NBS data showed.

Employees in the equipment manufacturing sector accounted for 39.2 percent of the people hired in industrial sectors in 2018, up 4.8 percentage points from 2018. The ones in raw materials manufacturing and high energy consumption sectors were down 2.4 percentage points and 2.1 percentage points, respectively, during the period.

As China promotes the transformation and upgrading of the equipment manufacturing sector, a decrease in headcount is a normal adjustment.

Index RMB/t DoD Basis Date
Datong 5500 390 0 ex-mine 08-07
Shuozhou 5200 420 0 FOR 08-07
Ordos 5500 350 0 ex-mine 08-07
Yulin 6200 405 0 ex-mine 08-07
Liulin Low-sulphur 815 0 ex-mine 08-07
Gujiao Low-sulphur 1240 0 FOR 08-07
Xingtai Low-sulphur 1540 0 ex-Factory 08-07
Yangquan PCI 720 0 FOR 08-07
Index RMB/t WoW WoW% Date
Qinhuangdao 562.0 36.0 6.84 08-06
Caofeidian 399.0 -22.0 -5.23 08-06
Huanghua 200.7 -6.9 -3.32 08-06
Guangzhou 256.7 -14.2 -5.24 08-06
coastal 6PPs 1629.8 44.7 2.82 07-02
North Ports 2421.5 90.5 3.88 07-30
Yangtze River delta 1398.0 -39.0 -2.71 07-30
South Ports 3272.5 1.5 0.05 07-30
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