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Industrial output growth to slow to 11%: ministry
By Richard Fu |
October 26, 2011, Wednesday
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Online Edition
Online Edition
CHINA'S industrial growth is slowing but can still meet annual targets, as the government intensifies economic restructuring efforts, emission-cutting and energy-saving projects, the industry ministry said.
The nation's industrial output will likely grow 11 percent this year, the Ministry of Industry and Information Technology said today, after rising 14.2 percent in the first three quarters and 13.8 percent in September.
"In general, industrial growth has been dropping quarter by quarter," said Xiao Chunquan, head of the ministry's operation inspection and coordination bureau, adding the trend would continue.
He said China was likely to see industrial growth of around 11 percent next year.
The driving forces of the nation's industrial growth are weakening both at home and abroad, the ministry said.
The government is intensifying efforts to restructure its economy and to phase out factories that are not efficient and clean enough.
In addition, domestic demand is playing a bigger role than before in contributing to industrial growth in the face of weaker external demand mainly resulting from Europe's sovereign debt crisis and the slowing global economy.
Xiao said he didn't expect any significant improvement in the grim international situation in coming months, and although the inflation rate was falling, it was still at an elevated level, putting pressure on industrial expansion.
Sectors that were experiencing slowing exports included light industrial products, textiles, machineries, and in particular, electronic products, the ministry said.
The nation's industrial output will likely grow 11 percent this year, the Ministry of Industry and Information Technology said today, after rising 14.2 percent in the first three quarters and 13.8 percent in September.
"In general, industrial growth has been dropping quarter by quarter," said Xiao Chunquan, head of the ministry's operation inspection and coordination bureau, adding the trend would continue.
He said China was likely to see industrial growth of around 11 percent next year.
The driving forces of the nation's industrial growth are weakening both at home and abroad, the ministry said.
The government is intensifying efforts to restructure its economy and to phase out factories that are not efficient and clean enough.
In addition, domestic demand is playing a bigger role than before in contributing to industrial growth in the face of weaker external demand mainly resulting from Europe's sovereign debt crisis and the slowing global economy.
Xiao said he didn't expect any significant improvement in the grim international situation in coming months, and although the inflation rate was falling, it was still at an elevated level, putting pressure on industrial expansion.
Sectors that were experiencing slowing exports included light industrial products, textiles, machineries, and in particular, electronic products, the ministry said.
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