According to the National Bureau of Statistics of China, the Producer Price Index (PPI) for industrial goods in September dropped by 2.3% year-on-year, a reduction of 0.6 percentage points compared to the previous month, while it remained stable month-on-month. Chief Statistician Dong Lijuan from the Bureau explained that besides the lower comparative base from the same period last year, the effects of China's macroeconomic policies are becoming increasingly evident, leading to positive price changes in certain industries. In particular, the results of capacity management in specific sectors are showing through improved market competition and a narrower year-on-year price decline.

In September, the year-on-year price decreases for the coal processing, ferrous metal smelting and rolling, coal mining and washing, photovoltaic equipment and components manufacturing, battery manufacturing, and non-metallic mineral products industries shrank by 8.3, 3.4, 3.0, 2.4, 0.5, and 0.4 percentage points respectively. The downward pressure on the PPI from these six industries decreased by approximately 0.34 percentage points compared to the previous month. Upgrading of industrial structures and the release of consumer potential have also led to a year-on-year price increase in related sectors.

In September, the price of aircraft manufacturing increased by 1.4% year-on-year, while specialized electronic materials manufacturing rose by 1.2%, and wearable smart device manufacturing saw a slight increase of 0.1%. Policies aimed at boosting consumption continue to yield results, with demand for upgraded and quality consumption driving a 14.7% year-on-year increase in decorative arts and ceremonial supplies manufacturing prices, as well as a 1.8% rise in nutrition food manufacturing prices. Month-on-month, the improvement in supply and demand dynamics led to more stable prices in certain sectors.

Coal processing prices rose by 3.8% month-on-month, while coal mining and washing prices increased by 2.5%, and the prices of ferrous metal smelting and rolling rose by 0.2%, continuing an upward trend for two consecutive months. Non-metallic mineral products and lithium-ion battery manufacturing prices fell by 0.4% and 0.2% month-on-month, but these declines were 0.6 and 0.3 percentage points narrower than the previous month respectively.