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China's factory output set to grow firmly
By Joyce Pan |
December 13, 2010, Monday
|
Print Edition
Print Edition
CHINA'S factory output is expected to grow robustly due to strong exports and investments in construction, according to analysts.
"Stronger exports and construction investment will help industrial output to expand relatively fast in the next few months," according to a UBS Investment Research.
In fact a rapid expansion in fixed asset investments as well as exports have allowed China's industrial production to increase momentum in November. The annual growth in industrial output picked up to 13.3 percent in November after it grew by a slower 13.1 percent in October, according to the National Bureau of Statistics.
"If the momentum for exports, industrial output and investment could be sustained, the fourth-quarter economic growth may exceed expectations," Shenyin Wanguo Securities Research said.
UBS Securities has projected a 8.7-percent growth for the fourth quarter.
Urban investment in public works, or fixed assets, jumped 24.9 percent to 21.1 trillion yuan (US$3.2 trillion) in the first 11 months, up 0.5-percentage point from the rate in January-October period, the bureau said. In particular, fixed-asset investment in property development soared an annual 36.5 percent in the first 11 months to 4.3 trillion yuan.
China's exports surged 34.9 percent from a year ago last month to US$153.3 billion, up from the 22.9-percent rise in October, customs data showed.
"Stronger exports and construction investment will help industrial output to expand relatively fast in the next few months," according to a UBS Investment Research.
In fact a rapid expansion in fixed asset investments as well as exports have allowed China's industrial production to increase momentum in November. The annual growth in industrial output picked up to 13.3 percent in November after it grew by a slower 13.1 percent in October, according to the National Bureau of Statistics.
"If the momentum for exports, industrial output and investment could be sustained, the fourth-quarter economic growth may exceed expectations," Shenyin Wanguo Securities Research said.
UBS Securities has projected a 8.7-percent growth for the fourth quarter.
Urban investment in public works, or fixed assets, jumped 24.9 percent to 21.1 trillion yuan (US$3.2 trillion) in the first 11 months, up 0.5-percentage point from the rate in January-October period, the bureau said. In particular, fixed-asset investment in property development soared an annual 36.5 percent in the first 11 months to 4.3 trillion yuan.
China's exports surged 34.9 percent from a year ago last month to US$153.3 billion, up from the 22.9-percent rise in October, customs data showed.
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