Group 1: Industrial Growth and Innovation - The industrial economy in China showed steady progress in the first three quarters, with a year-on-year increase of 6.2% in industrial added value for large-scale enterprises [1][6] - The equipment manufacturing sector's added value grew by 9.7%, accounting for 35.9% of total industrial output, indicating a strong "ballast" effect [2][6] - High-tech manufacturing also saw a 9.6% increase, outpacing overall industrial growth by 3.4 percentage points, highlighting the sector's significant contribution to industrial expansion [2] Group 2: Resilience in Industry - Industrial resilience is characterized by the ability to maintain stable operations and adapt quickly to external shocks, with the machine tool industry exemplifying this resilience [4] - The demand for high-end machine tools is increasing due to the rapid development of new industries such as new energy vehicles and aerospace, presenting both opportunities and challenges for domestic manufacturers [4] - Exports of machine tools from Jiangsu province reached 10.97 billion yuan, a year-on-year increase of 15.3%, driven by both leading and small enterprises [4][6] Group 3: Green Development - The green transformation of the industrial sector has made significant progress, with the production of new energy vehicles increasing by 29.7% and lithium-ion battery production rising by 46.9% [7] - The output of wind power generation units surged by 72.4%, while nuclear power generation units and solar cells also saw substantial growth, reflecting the acceleration of the energy structure's transition to clean and low-carbon sources [7] Group 4: Future Outlook - The conditions for stable growth in the industrial economy remain favorable, supported by the integration of technological and industrial innovation, which enhances autonomous innovation and industrial upgrading [8] - Recent policies focusing on green low-carbon development are expected to effectively promote qualitative improvements and reasonable quantitative growth in the industrial sector [8]

Core Viewpoint - The industrial economy in China has shown steady growth in the first three quarters of the year, characterized by innovation-driven development, resilient industries, and green transformation [1][9]. Innovation-Driven Growth - Innovation is a key driver for high-quality industrial development, moving away from traditional factor inputs to focus on original and disruptive technological advancements [2]. - In the first three quarters, the added value of the equipment manufacturing industry grew by 9.7%, accounting for 35.9% of the total industrial output, marking 31 consecutive months above 30% [2]. - High-tech manufacturing also saw a 9.6% increase, outpacing the overall industrial growth by 3.4 percentage points, highlighting its significant impact on industrial expansion [2]. - The demand for new energy vehicles and electronic information has positively influenced the equipment manufacturing sector, creating a virtuous cycle of demand, production, and innovation [2]. Resilient Industries - Industrial resilience is crucial for maintaining stable operations and adapting to external shocks, with the machine tool industry exemplifying this resilience [4]. - The demand for high-end machine tools is increasing due to the rapid development of new industries such as new energy vehicles and aerospace, presenting both opportunities and challenges for domestic manufacturers [4]. - A specific example includes a new machine tool developed by a company that improves processing efficiency by 40% compared to conventional models, reflecting innovation in response to market needs [4]. - Exports of machine tools from Jiangsu province reached 10.97 billion yuan, a 15.3% increase year-on-year, driven by both leading and small enterprises [4]. Green Development - The green transformation of the industrial sector has made significant progress, with notable increases in the production of green products [7][8]. - In the first three quarters, the production of new energy vehicles rose by 29.7%, lithium-ion battery production increased by 46.9%, and charging station production grew by 22.2%, supporting the electric vehicle industry's transition [8]. - The production of green energy equipment also saw substantial growth, with wind turbine production up by 72.4%, nuclear power generator production up by 38.9%, and solar cell production up by 14.0% [8]. Outlook for Future Growth - The conditions for stable growth in the industrial economy remain favorable, with ongoing advancements in new industrialization and the integration of technological and industrial innovation [9]. - Recent policies aimed at promoting green low-carbon development are expected to enhance both the quality and reasonable growth of the industrial sector [9].

近期，高端制造业上下游企业订单增长、技术突破的捷报频传；国家统计局数据显示，前三季度，全国 规模以上工业增加值同比增长6.2%……总体来看，前三季度工业经济稳中有进，呈现出创新引领、产 业强韧、绿色发展的特征。 创新引领： 以技术突破激活增长新动能 创新引领是工业高质量发展的时代内涵。中国社会科学院工业经济研究所研究员周维富在接受上海证券 报记者采访时表示，创新引领是指工业发展摆脱了对传统要素投入的依赖，原创性、颠覆性技术创新成 为工业发展和工业结构升级的主要推动力量。 国家统计局数据显示，前三季度，规模以上装备制造业增加值同比增长9.7%，累计增加值占全部规上 工业比重达35.9%，已连续31个月超过30%，"压舱石"作用进一步凸显。同时，高技术制造业增加值增 长9.6%，增速快于全部规模以上工业3.4个百分点，凸显高技术产业对工业增长的拉动效应。 中泰证券研究所政策团队首席分析师杨畅分析，装备制造业的快速发展，一方面是创新驱动转型的直接 成果，企业技术迭代速度加快，产品附加值持续提升；另一方面也受益于下游需求的逐步改善，新能源 汽车、电子信息等领域的旺盛需求，反向拉动了装备制造环节的生产扩张，形成"需求— ...