Industries beat output outlook
By Richard Fu |
January 18, 2012, Wednesday
|
Print Edition
Print Edition
CHINA'S industrial production surpassed expectations by growing 12.8 percent last month, according to data released by the National Bureau of Statistics yesterday.
In 2011 industrial output rose 13.9 percent in line with earlier government estimates.
The Ministry of Industry and Information Technology has set a slower growth target of 11 percent for this year as it cited uncertainties in the global economy. Industrial output is closely correlated with gross domestic product growth in China, a mainly manufacturing-driven economy.
China's industrial output data cover firms with a minimum annual revenue of 20 million yuan (US$3.17 million).
The power generation industry rose 9.7 percent annually to 403.8 billion kilowatt-hours in December, while the output of steel products gained 6 percent annually to 71.07 million tons, the bureau said.
In 2011 industrial output rose 13.9 percent in line with earlier government estimates.
The Ministry of Industry and Information Technology has set a slower growth target of 11 percent for this year as it cited uncertainties in the global economy. Industrial output is closely correlated with gross domestic product growth in China, a mainly manufacturing-driven economy.
China's industrial output data cover firms with a minimum annual revenue of 20 million yuan (US$3.17 million).
The power generation industry rose 9.7 percent annually to 403.8 billion kilowatt-hours in December, while the output of steel products gained 6 percent annually to 71.07 million tons, the bureau said.
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