China - Industrial Production

China: Industrial Production

Mnemonic IP.ICHN
Unit % Y/Y, NSA
Adjustments Not Seasonally Adjusted
Data Feb 2023 2.4
Jan 2023

Series Information

Source National Bureau of Statistics of the People's Republic of China
Release Industrial Production
Frequency Monthly
Start Date 1/31/1995
End Date 2/28/2023

China: Business

Reference Last Previous Units Frequency
Industrial Production Feb 2023 2.4 % Y/Y, NSA Monthly
Purchasing Managers index Feb 2023 52.6 50.1 Dif. Index=50, SA Monthly
Change in Inventories 2017 9,585 8,053 100 Mil. CNY Annual

Release Information

For China, growth rate of industrial production, by type of enterprise.

In China, the Industrial Production data is compiled by the National Bureau of Statistics (NBS) of China. These data are collected based on the requirement of all level of government to understand the country's industrial production and businss activities, in order to formulate policies for economic management and control.

  • Industrial classification:
  • Raw measurements:
    • Unitary count (#)
    • 10 thousand count (10 Ths. #)
    • 100 million count (100 Mil. #)
    • Metric tons (tons)
    • 10 thousand metric tons (10 Ths. tons)
    • 10 thousand kilowatts (10 Ths. kW)
    • 100 million kilowatt hours (100 Mil. kWh)
    • 10 thousand meters (10 Ths. m)
    • 100 million meters
    • 10 thousand square meters
    • 10 thousand kiloliters
    • Sets
    • Pieces
    • Mobile communication channels
    • Evaporation tons
    • Switchboard lines
    • Weight cases
  • Growth measurements:
    • Month-over-month percent change (% M/M)
    • Year-over-year percent change (% Y/Y)
  • Cumulation: Year to date (optional)
  • Adjustment: Not seasonally adjusted (NSA)
  • Native frequency: Monthly
  • Start date: As early as 2000m2
  • Geo classification:
    • Country
    • First-level administrative divisions (provinces, etc.) (31 of 34)

The statistical reporting system is divided into annual and periodic reports. This data set is in monthly frequency, while the annual data are published altogether in the Year Book release 

The scope of the statistical industries reports only large-scale enterprises that earn over five million Yuan revenue per annum.

As part of the "national survey", the Industrial Production data are reported by statistical offices at provincial and municipal level based on a standardized scope.


State-owned enterprises
Enterprises where the majority of the assets (over 50%) are owned by the state and have control of operation of the business.
Collective-owned enterprises
Enterprises where the assets are owned collectively by the public. It's further divided into urban and rural collective enterprises.
Share-holding enterprises
Enterprises where the registered capitals divided into equal shares and raised through issuing stocks.
Foreign-funded enterprises
Enterprises owned or raised through overseas funds in Hong Kong, Macau and Taiwan.
Light industry
Specific industry branches which supply consumer goods and production of hand tools industry.
Heavy industry
Branches which provide material and technical basis for the major means of production industries.

Moody's Analytics supplements

We compute quarterly versions for select industrial sectors.


Because of Lunar New Year celebrations, 11 periods are reported, and our calendar skips from December to February. The initial report around the middle of the month is the headline value, followed about a week later by detail.

The Industrial Production data is initially released in a report publication on the National Bureau of Statistics website. The publication of a more sophistiated statistical breakdown comes a week after the initial report and may contain revision data of previous months.

The four enterprise ownership categories do not sum to the total, because they overlap. For example, a share-holding enterprise may also be a state-owned enterprise.

Jan-Feb release

The source combines January and February data to minimise seasonal effects of Lunar New Year. We follow the same and not publish the monthly figures for January and February. Cumulated data will not be affected by this.

Further reading

At the source:

  • 30 Dec 2022, Phillip Thorne - Timeliness