Business trends
According to the National Bureau of statistics on March 10, in February 2021, China's industrial factory price (PPI) rose by 1.7% year-on-year and 0.8% month on month, while the industrial purchase price rose by 2.4% year-on-year and 1.2% month on month.
On a month on month basis, PPI rose by 0.8%, 0.2 percentage points lower than that of last month. Among them, the production price rose by 1.1%, and the increase dropped by 0.1%; the sale price rose by 0.2% last month to be flat. Among the 40 industries surveyed, 25 showed price increase, 10 showed price decrease, and 5 showed price flat. The change was consistent with that of last month. Affected by the continuous upward trend of international crude oil prices, the prices of domestic oil related industries continued to rise. The prices of oil and natural gas exploitation industry increased by 7.5%, the prices of oil, coal and other fuel processing industry increased by 4.9%, the prices of chemical fiber manufacturing industry increased by 3.6%, and the prices of chemical raw materials and chemical products manufacturing industry increased by 2.1%. The total impact on PPI increased by about 0.45 percentage points.
Among the purchase prices of industrial production, the prices of fuel and power increased by 3.3% month on month, the prices of ferrous metal materials increased by 2.2%, the prices of chemical raw materials increased by 1.3%, and the prices of non-ferrous metal materials and wires increased by 1.2%.
On a year-on-year basis, PPI rose by 1.7%, 1.4 percentage points higher than that of last month. Among them, the production price increased by 2.3%, and the increase increased by 1.8 percentage points; the selling price decreased by 0.2%, the same as last month. Among the major industries, ferrous metal smelting and rolling processing industry increased by 14.1% and 4.2%; nonferrous metal smelting and rolling processing industry increased by 12.1% and 3.2%; coal mining and washing industry increased by 10.9% and 1.8%; chemical raw materials and chemical products manufacturing industry increased by 4.0% and 2.8%. Oil and natural gas exploitation industry decreased by 6.4%, narrowing by 15.5%; oil, coal and other fuel processing industry decreased by 0.5%, narrowing by 8.5%.
Among the purchase prices of industrial production, the prices of ferrous materials increased by 11.6% year on year, the prices of non-ferrous materials and wires increased by 10.3%, the prices of chemical raw materials increased by 0.3%, and the prices of fuel and power decreased by 1.0%.
From January to February, on average, the ex factory price of industrial production increased by 1.0% over the same period last year, and the purchase price of industrial production increased by 1.6%