In the first half of the year, industrial enterprises in Tianjin rose to challenges and strove to maintain steady growth while making structural adjustments and promoting economic transformation. They grew 24.9 percentage points faster in the second quarter of the year than in the first, and rose 7.8 percentage points above the national average.

Industrial operation is stabilizing with increasing positive factors

In the first half of the year, the added value of industrial enterprises above designated size in Tianjin increased by 3.2 percent, 3.1 percentage points faster than the first quarter rate of growth.

Industrial exports grew steadily, with industrial exports accounting for 85 percent of the city's exports, up by 3 percent year-on-year.

The performance of these enterprises improved steadily, and the profit rate of prime operating revenue in industrial enterprises reached 7.3 percent, which was 0.8 points higher than profit in the first quarter and 0.8 percentage points higher than the national average.

The leading indicators performed well, and industrial electricity consumption rose for three consecutive months, up by 5 percent in the first half of the year.

The manufacturing purchasing managers index (PMI) continued to stay in the expansion range for four consecutive months. It reached 50.9 in June, 0.7 points higher than that in May.

The transformation of driving forces is accelerating

New industries, new products, new formats and new modes continued to maintain rapid growth. In the first half of the year, the output value of advanced manufacturing accounted for 59.4 percent of the total industrial output, more than double the rate of last year.

The added value of high-tech industries (manufacturing) increased by 6.8 percent, a slightly faster rate of increase than that in the first quarter.

The added value of electrical machinery and equipment, pharmaceuticals, special equipment and automobiles increased by 18.7 percent, 13.6 percent, 13.5 percent and 7.4 percent respectively.

New materials, new energy and bio-pharmaceutical products developed rapidly, with the output of new energy vehicles growing by a factor of 5.3. Production of carbon fiber reinforced composites, optoelectronic devices, lithium-ion batteries and medical equipment rose by 69.5 percent, 56 percent, 55 percent and 25 percent respectively.

With the rapid development of new formats made possible from advances in artificial intelligence, the production of wearable smart devices grew by 58 percent, while production of consumer service robots increased by 30.1 percent and the output of service robots rose by 36.4 percent.

The supply-side structural reform of industries in Tianjin was also further advanced, and some effective measures were taken to reduce costs. The cost per hundred yuan of main business revenue was 83.9 yuan, 0.6 yuan lower than the national average.