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China eyes 11% industrial growth in 2012
By Richard Fu |
December 26, 2011, Monday
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Online Edition
Online Edition
CHINA aims to increase its industrial output by 11 percent next year, easing from an estimated 13.9 percent growth in 2011, Miao Wei, the minister of Industry and Information Technology, said today.
Miao said development in the industrial sector "won't be optimistic" next year, citing uncertainties in global economy, the China National Radio reported.
Speaking at the ministry's work conference in Beijing, Miao said the government will launch action plans next year to accelerate consolidation in industries such as steel, auto and cement.
Industrial output is closely tied with the GDP growth in China, a mainly manufacturing-driven economy.
Industrial production has lost steam in recent months. It grew 12.4 percent in November, moderating from the 13.2 percent rise in October.
Miao said development in the industrial sector "won't be optimistic" next year, citing uncertainties in global economy, the China National Radio reported.
Speaking at the ministry's work conference in Beijing, Miao said the government will launch action plans next year to accelerate consolidation in industries such as steel, auto and cement.
Industrial output is closely tied with the GDP growth in China, a mainly manufacturing-driven economy.
Industrial production has lost steam in recent months. It grew 12.4 percent in November, moderating from the 13.2 percent rise in October.
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