三季度工业增速超预期，后续走势如何

Core Insights - China's industrial economy has shown resilience with a 6.2% year-on-year growth in industrial added value for the first three quarters, supported by proactive macroeconomic policies [1][2] - The manufacturing sector outperformed, growing by 6.8%, while mining and utilities lagged behind with growth rates of 5.8% and 2.0% respectively [2] - A significant portion of industries, 37 out of 41, reported growth, indicating a broad-based recovery [2] Industrial Growth - The industrial added value for large-scale industries increased by 6.5% year-on-year in September, marking a 1.3 percentage point acceleration from August [1][2] - Exports played a crucial role in this growth, with a 3.3% increase in export delivery value for large-scale industries in the first three quarters [2] - In September, industrial exports rebounded with a 3.8% growth, reversing the decline seen in August [2] Sector Performance - The equipment manufacturing sector saw a 9.7% increase in added value, contributing significantly to overall industrial growth [7] - Key industries such as automotive, electrical machinery, and electronics grew by 11.2%, 11.1%, and 10.9% respectively, highlighting their importance in the industrial landscape [7] - High-tech manufacturing also performed well, with a 9.6% increase in added value, contributing 24.7% to the overall industrial growth [7] Policy and Future Outlook - The Ministry of Industry and Information Technology has emphasized the need for targeted policies to stimulate market vitality and bolster confidence in industrial growth [1][9] - The government is focusing on nurturing strategic emerging industries, including high-tech manufacturing and new energy vehicles, to create new growth drivers [8][9] - Industrial enterprises are showing improved profitability, with a 0.9% year-on-year profit increase for large-scale industries from January to August [8]