China industrial output +4.1% YoY in April 2026; PPI +2.8%
China's industrial output rose 4.1% year-on-year in April 2026, the National Bureau of Statistics (NBS) reported on May 18. For the January-April period, value-added industrial output grew 5.6% compared with the same period last year, maintaining a steady and relatively fast expansion.
The NBS spokesperson noted that the slight slowdown in April's growth rate was a normal month-on-month fluctuation, and the overall trend of steady improvement in industrial production remained unchanged. Equipment manufacturing continued to be a bright spot, with value-added output in April increasing 8.3% YoY, accelerating by 0.1 percentage point from March. The sector contributed 74.5% to total industrial growth. Within equipment manufacturing, the electronics and automobile industries – now key competitive sectors – saw output growth of 15.6% and 9.2% respectively. This strength was reflected in exports: automatic data processing equipment and automobile exports grew 28% and 49.5% in the first four months.
High-tech manufacturing expanded 12.8% YoY in April, 1.1 points faster than March and well above the overall industrial average. Aerospace and equipment manufacturing rose 15.4%, while electronics and communication equipment manufacturing increased 17.4%. Digital product manufacturing grew 12% YoY, up 2.4 points from March.
New growth drivers gained momentum. Output of hydropower generator sets and lithium-ion batteries surged 47.4% and 31% respectively in April. Robot reducers and industrial robots grew 38.3% and 15.1%. Bio-based material manufacturing jumped 19.5%, contributing 65.6% to the growth of the chemical fiber industry.
Enterprise expectations improved as factory-gate prices recovered. The Producer Price Index (PPI) for April rose 2.8% YoY, the highest in 45 months, and 1.7% month-on-month, extending seven consecutive months of sequential increases. NBS statistician Wang Guanhua attributed the PPI rise to multiple factors: international energy price pass-through (oil and gas extraction prices up 28.6% YoY); structural upgrades driving demand for electronics, nonferrous metals, and green materials (e.g., optical fiber manufacturing prices up 115.9%, nonferrous metals smelting and pressing up 22.5%); and improved market competition conditions, notably in lithium battery and photovoltaic equipment manufacturing (prices up 4.5% and 3.8% respectively).
On the services side, the services production index grew 4.3% in April. Modern services performed well: information transmission, software, and IT services rose 11.7% YoY, driven by AI and computing demand. Leasing and business services remained active.
The NBS acknowledged that external uncertainties, including Middle East tensions and energy market volatility, continue to pose challenges. However, China's complete industrial system, strong supporting capacity, and green energy transition have helped maintain stability. The manufacturing PMI stood at 50.3% in April, the second consecutive month in expansion territory, with the production expectations index rising to 54.5%.
Source: National Bureau of Statistics of China. Original: https://www.stats.gov.cn/sj/sjjd/202605/t20260518_1963741.html