China’s industrial production rose 0.50% MoM and 6.8% YoY (vs 5.6% YoY expected) in June 2025, with YTD growth at 6.4% YoY, supported by strength in manufacturing and high-tech sectors.

• Manufacturing output rose 7.4% YoY; high-tech manufacturing increased 9.7% YoY, led by autos (+11.4%), electrical machinery (+11.4%), and electronic equipment (+11.0%).
• New energy vehicle production rose 18.8% YoY; industrial robots surged 37.9% YoY; solar cells output increased 24.1% YoY.
• Cement (-5.3% YoY), flat glass (-4.5% YoY), and crude steel (-9.2% YoY) were weak, reflecting soft demand in construction-related industries.
• Export delivery value rose 4.0% YoY, while the product sales rate fell -0.3 pp YoY to 94.3%.
• Power generation rose 1.7% YoY, with solar (+18.3%) and nuclear (+10.3%) offsetting declines in hydropower (-4.0%).