China’s industrial production rose 4.1% YoY in April, slowing from prior months but leaving January-April industrial output growth at 5.6% YoY as manufacturing and high-tech sectors continued to outperform.

• Manufacturing output increased 4.0% YoY, while high-tech manufacturing surged 12.8%, led by strong gains in electronics and advanced manufacturing. Computer, communication, and electronic equipment production rose 15.6%, while integrated circuits jumped 22.1%.
• Industrial robotics (+15.1%), aerospace and transportation equipment (+8.2%), special equipment manufacturing (+6.2%), and automobile manufacturing (+9.2%) also remained areas of relative strength.
• More traditional industrial sectors remained weak. Cement output fell -10.8%, crude steel declined -2.8%, solar cell production dropped -25.6%, and crude oil processing fell -5.8%, highlighting ongoing softness in construction-related and commodity-intensive activity.
• Export-oriented manufacturing remained resilient, with export delivery values rising 10.6% YoY in April, while product sales rates edged slightly lower to 97.1%.