BEIJING, May 2 (Xinhua) -- The value-added industrial output of China's non-ferrous metal industry rose 11.4 pct year on year in the first quarter of 2024, with the growth rate being 5.3 percentage points higher than the country's general value-added industrial output growth during the same period, according to latest data.
In particular, the value-added industrial output of mining and dressing enterprises grew 7.4 percent year on year, while enterprises engaged in smelting and processing saw 12 percent growth in value-added industrial output, according to the data released by the China Nonferrous Metals Industry Association.
In the first quarter of 2024, the industry sustained steady growth, evidenced by increasing production, accelerated investment, robust imports and exports and significant growth in corporate profits, according to Chen Xuesen, vice president of the association.
Chen said that 11,239 surveyed enterprises in the non-ferrous metal industry raked in total business revenue of 1.91 trillion yuan (about 268.78 billion U.S. dollars) in the first quarter, up 9.4 percent year on year, with their total profits reaching 67.23 billion yuan, marking an increase of 30.4 percent year on year.
As China's electric vehicle, lithium-ion battery and solar product industries rapidly advance, alongside the ongoing development of strategic emerging sectors like the new-generation electronic information industry, the market demand for nonferrous metal products will continue to increase, Chen noted. ■
