前三季度装备制造业“压舱石”作用凸显，机器人减速器产量猛增

Core Insights - The industrial added value of large-scale industries in China grew by 6.2% year-on-year in the first three quarters of 2023, with the equipment manufacturing sector showing a notable increase of 9.7% [1][4][5] - High-tech manufacturing also performed well, with a 9.6% increase in added value, outpacing the overall industrial growth by 3.4 percentage points [1][4][5] - The growth in the equipment manufacturing sector reflects positive outcomes from innovation-driven transformation and improved downstream demand [5][6] Equipment Manufacturing - The added value of the equipment manufacturing industry accounted for 35.9% of the total industrial output, maintaining above 30% for 31 consecutive months, highlighting its stabilizing role in the economy [1][4][5] - Key industries contributing to this growth include automotive, electrical machinery, and electronics, with respective growth rates of 11.2%, 11.1%, and 10.9% [5][6] - The production of high-end equipment products, such as generator sets and railway locomotives, saw significant increases, with growth rates of 51.1% and 16.6% respectively [5] High-Tech Manufacturing - The high-tech manufacturing sector's added value grew by 9.6%, contributing 24.7% to the overall industrial growth [5][6] - Specific industries within high-tech manufacturing, such as integrated circuit manufacturing and biopharmaceuticals, reported substantial growth rates of 22.4% and 11.8% respectively [5][6] - Notable products in this sector included industrial control computers and 3D printing equipment, which experienced production increases of 98.0% and 40.5% [5][6] Industrial Production Trends - In the first three quarters, 37 out of 41 major industrial categories reported year-on-year growth, indicating a broad-based recovery [6][7] - The production of robots and related products surged, with robot reducer production increasing by 120% and industrial robots growing by 29.8% [2][6] - The overall industrial production environment remains stable, supported by ongoing macroeconomic policies and new growth initiatives [8]