China manufacturing industry has a tenacious response to risk challenges

Miao Wei, Minister of the Ministry of Industry and Information Technology: China's manufacturing industry has a tenacious response to risk challenges

On September 24, the U.S. government announced a 10% tariff increase on $200 billion of goods from China, and the Sino-U.S. economic and trade frictions escalated. How resilient is China's manufacturing industry? Does the manufacturing industry have the strength and ability to cope with various risk challenges? What are the general conditions and characteristics of China's industrial operation in the first eight months of this year? What measures has the Ministry of Industry and Information Technology taken and will be taken to help enterprises cope with the current difficulties?

China's manufacturing industry has great resilience and room for manoeuvre. We have the strength, ability and confidence to deal with various risks and challenges.

"In the first eight months of this year, the value-added of industries above scale increased by 6.5% year-on-year, of which the value-added of manufacturing industry, which accounts for about 85% of industry, increased by 6.8%, faster than the expected target set at the beginning of this year." Miaowei said that in addition to increasing the growth rate, improving the efficiency of enterprises and achieving double-digit growth, the first eight months of industrial economic operation also showed three bright spots:

First, the growth rate of high-tech manufacturing industry is faster than that of the whole industry.

Second, the growth rate of manufacturing investment has steadily rebounded.

Third, the manufacturing industry should further expand its opening to the outside world