Industrial growth to exceed 10%

Source: Xinhua | May 22, 2009, Friday |

Print Edition

CHINA'S industrial output growth is expected to exceed 10 percent in the second half of this year, buoyed by the government's stimulus package and growing domestic demand, according to a report released in Beijing yesterday.

"The overall situation in both heavy and light industries is turning positive," said the report jointly issued by the Ministry of Industry and Information Technology and the Chinese Academy of Social Sciences, a government think tank.

Heavy and light industries maintained slow but stable development in the first four months of this year thanks to the government's 4 trillion yuan (US$586 billion) package and rising domestic demand, said the report.

In China, heavy industry includes mining, electricity, petroleum, chemicals, building materials, and machinery, while light industry includes textiles, food, and pharmaceutical sectors.

Industrial output growth slowed to 7.3 percent year on year in April from 8.3 percent in March, the National Bureau of Statistics said. The figure from January to April was up 5.5 percent year on year.

For April alone, heavy industry output rose 6.9 percent year on year, while that of light industry climbed 8.2 percent, the ministry said.

Heavy industry output rose 4.5 percent during the first quarter, while that of light industry rose 6.8 percent.

Economy

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Industrial growth to exceed 10%

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