This aerial photo taken on Nov 8, 2023 shows robots sorting and conveying parcels at an intelligent logistics center in Deqing County, east China's Zhejiang province. (PHOTO / XINHUA)

BEIJING --China's value-added industrial output, an important economic indicator, went up 4.6 percent year-on-year in October, data from the National Bureau of Statistics (NBS) showed Wednesday.

Among the three major sectors, the mining sector and the manufacturing sector expanded by 2.9 percent and 5.1 percent, respectively, in October, while the production and supply of electricity, heat, gas, and water rose by 1.5 percent.

In a breakdown by ownership, the output of state-controlled companies, joint-equity firms, and private enterprises went up 4.9 percent, 5.6 percent, and 3.9 percent year-on-year, respectively, last month.

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In terms of products, the output of solar cells surged by 62.8 percent, while service robots and integrated circuits rose by 59.1 percent and 34.5 percent.

From January to October, industrial output rose 4.1 percent year-on-year, according to the NBS.

The industrial output is used to measure the activity of enterprises, each with an annual main business turnover of at least 20 million yuan (about $2.79 million). 

This photo taken on Oct 21, 2023, shows a working station for intelligent robots at the 2023 World Internet of Things (IoT) Exposition in Wuxi, east China's Jiangsu province. (PHOTO / XINHUA)

Fixed-asset investment went up 2.9%

China's fixed-asset investment went up 2.9 percent year on year to about 41.94 trillion yuan (about $5.85 trillion) in the first ten months of 2023, data from the National Bureau of Statistics showed Wednesday.

The country's eastern region led fixed-asset investment growth by registering a 4.9 percent rise year on year during the period, while the central, western and northeastern parts of the country saw fixed-asset investment decrease by 0.1 percent, 0.5 percent, and 3.5 percent, respectively

During the period, fixed-asset investment in the manufacturing sector rose 6.2 percent year on year, according to the bureau.

Fixed asset investment from the private sector stood at around 21.59 trillion yuan, down 0.5 percent year on year.

Investment in infrastructure construction increased 5.9 percent from the same period last year. In particular, investment in railway transportation expanded 24.8 percent.

The country's eastern region led fixed-asset investment growth by registering a 4.9 percent rise year on year during the period, while the central, western and northeastern parts of the country saw fixed-asset investment decrease by 0.1 percent, 0.5 percent, and 3.5 percent, respectively.

READ MORE: China's urban rail transit trips soar 55.8% in October

Fixed-asset investment stemming from foreign firms grew 0.9 percent year on year in the January-October period, compared to the 3.2 percent growth recorded for domestic enterprises.

In October alone, fixed-asset investment grew 0.1 percent compared with the previous month, data from the bureau showed. 

A member of staff promotes children's clothing via livestreaming in Zhili Town of Huzhou City in east China's Zhejiang province, Nov 8, 2023. (PHOTO / XINHUA)

Retail sales of consumer goods climbed 7.6%

China's retail sales of consumer goods, a major indicator of the country's consumption strength, climbed at a faster pace of 7.6 percent year-on-year in October, official data showed Wednesday.

The increase, the fastest since May this year, accelerated from a rise of 5.5 percent registered in September, according to the National Bureau of Statistics (NBS).

Total retail sales of the country's consumer goods topped 38.54 trillion yuan (about $5.37 trillion) in the January-October period, up 6.9 percent from one year earlier

According to NBS spokesperson Liu Aihua, the country has seen an evident recovery momentum of its consumption demand, which she attributed to various factors including the effective implementation of the government's consumption-boosting policies, intensive spending during the National Day holiday, and the promotion of the Singles' Day online shopping bonanza.

Retail sales in the country's urban regions rose 7.4 percent year-on-year last month, while that in rural areas expanded 8.9 percent.

Total retail sales of the country's consumer goods topped 38.54 trillion yuan (about $5.37 trillion) in the January-October period, up 6.9 percent from one year earlier, according to the NBS.

Online retail sales jumped 11.2 percent year-on-year to 12.29 trillion yuan in the first 10 months. In particular, online retail sales of physical goods rose 8.4 percent year-on-year, accounting for 26.7 percent of the total retail sales of consumer goods.

As the country's economic recovery gains momentum, along with the effective implementation of consumption-boosting policies and an improving employment landscape, the foundation of consumption recovery and expansion will be further consolidated, Liu said.

People learn about smart hardware at the 2023 World Internet of Things (IoT) Exposition in Wuxi, east China's Jiangsu province, Oct 21, 2023. (PHOTO / XINHUA)

Service production expands 7.7%

China's service production index went up 7.7 percent year-on-year in October, data from the National Bureau of Statistics (NBS) showed Wednesday.

The growth rate was 0.8 percentage points faster than the September level, it added.

The sub-reading for accommodation and catering surged by 21.3 percent year-on-year.

The sub-index tracking the performance of transportation, warehousing, and postal services climbed 13.2 percent, while that for the information transmission, software, and IT services expanded 10.9 percent, according to the bureau.

In the first ten months, the service production index increased by 7.9 percent year-on-year. The combined revenues of major service enterprises rose 7.1 percent year-on-year in the January-September period.

Tourists visit Xiangdong Street of Xinhua County, central China's Hunan province, Oct 2, 2023. (PHOTO / XINHUA)

Spending in the service sector has sustained rapid growth, and the Mid-Autumn Festival and National Day holiday early last month prompted consumption recovery in tourism and related sectors, according to NBS spokesperson Liu Aihua. 

In the first ten months, retail sales of services rose by 19 percent year-on-year, 0.1 percentage points faster than that of the first nine months. 

READ MORE: China's foreign trade up 0.03% in first 10 months

The sub-index tracking the performance of transportation, warehousing and postal services climbed 13.2 percent, while that for the information transmission, software and IT services expanded 10.9 percent, according to the bureau.

In the first ten months, the service production index increased by 7.9 percent year-on-year. 

This aerial photo taken from a helicopter on June 16, 2023, shows the parts of Binhai New Area in north China's Tianjin. (PHOTO / XINHUA)

Property investment decreases

China's investment in property development continued to cool in the first 10 months of 2023, down 9.3 percent year-on-year, the National Bureau of Statistics (NBS) said Wednesday.

Investment in residential buildings came in at 7.28 trillion yuan ($1.01 trillion), down 8.8 percent year-on-year, NBS data showed.

In terms of value, commercial housing sales dropped 4.9 percent year-on-year to 9.72 trillion yuan

Commercial housing sales shrank 7.8 percent year-on-year in terms of floor area to 925.79 million square meters.

In terms of value, commercial housing sales dropped 4.9 percent year-on-year to 9.72 trillion yuan.

"China's property sector is in the process of transformation," NBS spokesperson Liu Aihua told a press conference.

The overall rigid demand for residential housing and the needs of those who wish to improve their housing conditions remained sufficient in China, said Liu.

As various regions and departments further implement supportive measures for the property sector, and a new property development model gradually takes shape, China's property market will see stable, healthy, and high-quality development in the future, Liu said.

The property development climate index, compiled by the NBS, came in at 93.4 points in October. 

Surveyed urban unemployment rate at 5%

China's surveyed urban unemployment rate stood at five percent in October, unchanged from that in September, data from the National Bureau of Statistics showed Wednesday.