China can hit industrial output target
By Richard Fu |
October 27, 2011, Thursday
|
Print Edition
Print Edition
CHINA'S industrial growth is slowing but it can still meet its annual target for such expansion this year because the government is aggressively restructuring the economy, cutting emission and saving energy, the Ministry of Industry and Information Technology said yesterday.
Industrial output is set to grow 11 percent this year, the ministry said, after rising 14.2 percent in the first three quarters and 13.8 percent in September.
The government is deepening efforts to restructure its economy and phasing out factories that are not efficient and pollute the environment.
"In general, industrial growth has been easing quarter by quarter," said Xiao Chunquan, head of the ministry's operation inspection and coordination bureau, in Beijing yesterday. He added the weakening trend would continue.
The industrial growth is weakening because of lower external demand due to Europe's sovereign debt crisis and a slowing global economy.
Xiao said he doesn't expect any adverse turn in the gloomy international situation in the coming months, and although China's inflation rate fell, it's still considered too high and putting pressure on industrial expansion.
The government may set the same target of 11 percent for industrial output growth in 2012 as this year, he said.
Sectors that have seen slowing exports include light industry, textile, machinery, and electronics, the ministry disclosed.
Industrial output is set to grow 11 percent this year, the ministry said, after rising 14.2 percent in the first three quarters and 13.8 percent in September.
The government is deepening efforts to restructure its economy and phasing out factories that are not efficient and pollute the environment.
"In general, industrial growth has been easing quarter by quarter," said Xiao Chunquan, head of the ministry's operation inspection and coordination bureau, in Beijing yesterday. He added the weakening trend would continue.
The industrial growth is weakening because of lower external demand due to Europe's sovereign debt crisis and a slowing global economy.
Xiao said he doesn't expect any adverse turn in the gloomy international situation in the coming months, and although China's inflation rate fell, it's still considered too high and putting pressure on industrial expansion.
The government may set the same target of 11 percent for industrial output growth in 2012 as this year, he said.
Sectors that have seen slowing exports include light industry, textile, machinery, and electronics, the ministry disclosed.
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