China's value-added industrial output, an important economic indicator, went up 2.8 percent year on year in 2020, data from the National Bureau of Statistics (NBS) showed Monday.
The growth accelerated from a rise of 2.3 percent registered in the first 11 months of last year, according to the NBS.
In Q4, the industrial output grew 7.1 percent year on year, 1.3 percentage points higher than that recorded in Q3. December alone saw the output growth rise to 7.3 percent, up by 0.3 percentage points from November, NBS data showed.
The value-added industrial output measures the activity of designated large enterprises with an annual business turnover of at least 20 million yuan (about 3 million U.S. dollars).
In a breakdown by ownership, the output of state-holding enterprises climbed 2.2 percent in 2020, that of joint-stock companies went up 3 percent, and that of overseas-funded enterprises rose by 2.4 percent.
The output of the manufacturing sector went up 3.4 percent year on year last year, the fastest among the three major sectors, which also include mining and the production and supply of electricity, thermal power, gas and water.
The mining output edged up 0.5 percent year on year, while the production and supply of electricity, thermal power, gas and water reported a year-on-year growth of 2 percent.
Industrial structure continued to improve last year, with the output in high-tech manufacturing and equipment manufacturing industries expanding by 7.1 percent and 6.6 percent, respectively.
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