China Q1 Industrial Capacity Utilization Rate Up to 74.1%

China’s industrial capacity utilization rate fell to 74.9 percent in the fourth quarter of 2025 from 76.2 percent in the same period a year earlier. The decline was driven by lower production in the mining (71.7 percent vs 75.6 percent in Q4 of 2024), manufacturing industry (75.2 percent vs 76.4 percent), and electricity, heat, gas, and water supply (74.0 percent vs 74.8 percent). Compared to the third quarter, the industrial capacity utilization was at 74.6 percent, or 0.3 percentage points higher. For the whole of 2025, capacity utilization averaged at 74.4 percent, down 0.6 percentage points in the same period a year ago.

China’s industrial capacity utilization rate decreased to 74.6 percent in the third quarter of 2025 from 75.1 percent in the same period a year earlier. The decline was driven by lower production in the mining (72.5 percent vs 74.6 percent in Q3 of 2024) and manufacturing industry (74.8 percent vs 75.2 percent). Meanwhile, utilization rate remained unchanged for electricity, heat, gas, and water supply (at 74.3 percent). Compared to the second quarter, the industrial capacity utilization was at 74 percent or 0.6 percentage points higher. For the first three quarters of 2025, capacity utilization averaged at 74.2 percent, down 0.4 percentage points in the same period a year ago.

China’s industrial capacity utilization rate decreased to 74 percent in the second quarter of 2025 from 74.9 percent in the same period a year earlier. This marked the lowest rate since the first quarter of 2020, mainly due to a decline in production for the mining (72.7 percent vs 75.2 percent in Q2 of 2024) and manufacturing industry (74.3 percent vs 75 percent). Meanwhile, utilization rate marginally increased for electricity, heat, gas, and water supply (71.5 percent vs 71.4 percent). In the March quarter, the industrial capacity utilization rate was at 74.1 percent. Last year, the industrial capacity utilization rate eased slightly to 75% from 75.1% in 2023.