Pudong industrial growth turns from negative to positive

The industrial output of Pudong New Area in Shanghai was valued at 443.7 billion yuan ($64.29 billion) in the first half of this year, up 2.8 percent year-on-year, according to local media reports.

It is the only district in Shanghai in which the industrial output turned from negative to positive, thanks to year-on-year growth of more than 10 percent every month from April to June.

The average industrial capacity utilization rate was 76 percent in H1, up 5.4 percent compared to that in the first quarter.

Among the major industries, the capacity utilization of biomedicine and the complete equipment manufacturing industry was 80.3 percent and 79.3 percent; that of the automobile manufacturing sector was 74.1 percent, 8.9 percentage points higher than in Q1; and that of the information technology manufacturing sector was 75 percent, 5.8 percentage points higher than in Q1.

As market demand warms up, Pudong's sales and production outputs of automobiles achieved positive growth for the first time since 2019 at 0.2 percent and 5.7 percent respectively, with the total amounts reaching 98 billion yuan and 96.8 billion yuan.

Meanwhile, the output of the IT manufacturing industry increased to 114.4 billion yuan during H1, up 28.5 percent year-on-year. The growth rate was 3.5 percentage points higher than in the first five months.

By the end of June, emerging industries in Pudong had kept a growth of more than 10 percent for four months in a row, with the area's total industrial output valued at 216.9 billion yuan during H1, up 20.8 percent year-on-year.