Industrial production · China
China Industrial Capacity Utilization
The China Industrial Capacity Utilization measures the output of factories, mines and utilities in China (or of one industry).
- Importance
- Medium
- Released
- Quarterly
- Currency
- CNH · Chinese yuan (renminbi)
- Central bank
- The People's Bank of China
Latest figures
The latest release for Q3, published on 19 October 2026, came in at 73.1%, up from 73% the time before.
Over the last 8 releases it ranged from 73.0% to 76.2%, averaging 74.2%.
| Released | For | Actual | Consensus | Previous |
|---|---|---|---|---|
| 19 Oct 2026 | Q3 | 73.1% | – | 73% |
| 15 Jul 2026 | Q2 | 73% | – | 73.6% |
| 16 Apr 2026 | Q1 | 73.6% | – | 74.9% |
| 19 Jan 2026 | Q4 | 74.9% | – | 74.6% |
| 20 Oct 2025 | Q3 | 74.6% | – | 74% |
| 15 Jul 2025 | Q2 | 74% | – | 74.1% |
| 16 Apr 2025 | Q1 | 74.1% | – | 76.2% |
| 17 Jan 2025 | Q4 | 76.2% | – | 75.1% |
Why it matters
Industry is a smaller share of output than services in most rich economies but it is far more cyclical and reacts first to global demand. Strong production supports growth estimates; capacity utilisation near its limits points to inflation pressure.
How it is calculated
the National Bureau of Statistics (NBS) combines physical output and deflated sales data for many industries into a volume index, adjusted for working days and seasons. Capacity utilisation divides output by estimated maximum output.
Change (mom) = index ÷ last month's index − 1
Capacity utilisation = output ÷ capacity × 100What changes mean
- Monthly changes are noisy (weather, holidays, strikes); compare with the year-on-year rate.
- In Germany, Japan, Korea and China industry carries more weight for the currency.
Higher than expected: A stronger figure than expected points to a healthier economy: it usually supports the Chinese yuan (renminbi) and local stocks, and can push bond yields up.
Lower than expected: A weaker figure than expected points to slowing activity: the Chinese yuan (renminbi) tends to soften and markets price in lower rates.
A short history
The US Federal Reserve has published its industrial production index since 1919; it is one of the series used to date US business cycles.
Questions
What is the China Industrial Capacity Utilization?
The China Industrial Capacity Utilization measures the output of factories, mines and utilities in China (or of one industry).
What was the latest China Industrial Capacity Utilization?
73.1% for Q3, published on 19 October 2026.
Educational content only, not investment advice. Figures are the published results as recorded by our calendar; market reactions described are typical, not guaranteed.