解读5月份工业生产数据：工业生产保持较快增长 高质量发展稳步推进

Core Insights - Industrial production in May showed a robust growth trend, with a year-on-year increase of 5.8% in the added value of large-scale industries, and a month-on-month increase of 0.61% after seasonal adjustments [1] - The equipment manufacturing sector significantly contributed to industrial growth, with a year-on-year increase of 9.0%, accounting for 54.3% of the total industrial production growth [2] - High-tech manufacturing continued to drive quality development, with a year-on-year increase of 8.6% in added value, contributing 1.4 percentage points to overall industrial growth [3] Industrial Production Overview - In May, 35 out of 41 major industrial sectors reported year-on-year growth, resulting in a growth coverage of 85.4% [1] - Cumulatively, from January to May, the added value of large-scale industries increased by 6.3% year-on-year [1] Equipment Manufacturing Sector - The equipment manufacturing sector's added value growth of 9.0% was higher than the overall industrial growth by 3.2 percentage points, maintaining a share of 36.7% of total industrial output [2] - The automotive industry experienced a significant increase of 11.6% in added value, with other sectors like aerospace and electrical machinery also showing strong growth [2] Consumer Goods Manufacturing - The consumer goods manufacturing sector saw a year-on-year increase of 2.5%, with 10 out of 13 major categories reporting growth [2] - Notable growth was observed in sectors such as cultural and educational products, chemical fibers, and agricultural by-products, with respective increases of 10.1%, 6.1%, and 7.6% [2] High-Tech and Intelligent Manufacturing - High-tech manufacturing's added value increased by 8.6%, with significant contributions from sectors like aircraft manufacturing and electronic components [3] - The digital product manufacturing sector also showed strong growth, with a 9.1% increase in added value, driven by smart devices and electronic components [3] Green Manufacturing Trends - The production of new energy vehicles and related products saw remarkable growth, with increases of 31.7% for vehicles and 52.5% for lithium-ion batteries [3] - The supply of green materials also improved, with high-performance chemical fibers increasing by 92.2% [3] Policy Impact - The "two new" policies have effectively stimulated consumption, leading to significant growth in sectors such as motor manufacturing and shipbuilding [4] - The implementation of vehicle replacement subsidies contributed to an 11.3% increase in automotive production [4]