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Slower rising pace but still solid
By Richard Fu |
November 12, 2010, Friday
|
Print Edition
Print Edition
CHINA'S factory output and fixed-asset investment rose at a slower pace last month but still maintained solid growth.
The annual growth in industrial output edged lower to 13.1 percent last month from 13.3 percent in September and 13.9 percent in August, the National Bureau of Statistics said yesterday.
The slowdown occurred as some regional governments rationed power supplies to heavy industries to meet year-end energy-saving targets. Economists have said the slowdown is not alarming but rather a moderation amid tightening policies.
On a seasonally adjusted annual rate basis, industrial output accelerated to 17.5 percent in October from 12.7 percent in the previous month, after slowing to an average of 5 percent between April and July, according to Standard Chartered Bank.
This shows the "restrictions on energy consumption from mid-August appear to have been loosened in practice," the bank's Shanghai-based economists, Li Wei and Stephen Green, wrote in a note.
China's power output grew 5.9 percent last month after an 8.1 percent increase in September.
Minister of Industry and Information Technology Li Yizhong said on Saturday that industrial output will grow at least 13.5 percent this year as the sector has rebounded after overcoming the global financial crisis.
But the long-term growth prospects are promising, according to business executives.
"China still has a long road ahead of strong growth, though not necessarily at double-digits," Leon Chang, vice president of United States industrial gas supplier Air Products and Chemicals Inc, said in an interview last week.
Urban investment in public works, or fixed assets, grew 24.4 percent in the first 10 months, slowing slightly from a 24.5 percent rise in the January-September period, the bureau said.
In particular, fixed-asset investment in property development rose 36.5 percent in the first 10 months year on year. Standard Chartered said the sector's growth is set to slow in early 2011 on higher new housing supply and cautious sentiment.
The annual growth in industrial output edged lower to 13.1 percent last month from 13.3 percent in September and 13.9 percent in August, the National Bureau of Statistics said yesterday.
The slowdown occurred as some regional governments rationed power supplies to heavy industries to meet year-end energy-saving targets. Economists have said the slowdown is not alarming but rather a moderation amid tightening policies.
On a seasonally adjusted annual rate basis, industrial output accelerated to 17.5 percent in October from 12.7 percent in the previous month, after slowing to an average of 5 percent between April and July, according to Standard Chartered Bank.
This shows the "restrictions on energy consumption from mid-August appear to have been loosened in practice," the bank's Shanghai-based economists, Li Wei and Stephen Green, wrote in a note.
China's power output grew 5.9 percent last month after an 8.1 percent increase in September.
Minister of Industry and Information Technology Li Yizhong said on Saturday that industrial output will grow at least 13.5 percent this year as the sector has rebounded after overcoming the global financial crisis.
But the long-term growth prospects are promising, according to business executives.
"China still has a long road ahead of strong growth, though not necessarily at double-digits," Leon Chang, vice president of United States industrial gas supplier Air Products and Chemicals Inc, said in an interview last week.
Urban investment in public works, or fixed assets, grew 24.4 percent in the first 10 months, slowing slightly from a 24.5 percent rise in the January-September period, the bureau said.
In particular, fixed-asset investment in property development rose 36.5 percent in the first 10 months year on year. Standard Chartered said the sector's growth is set to slow in early 2011 on higher new housing supply and cautious sentiment.
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