China's Industrial Production Grows Fast in First Quarter

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Last updated at: (Beijing Time) Thursday, April 11, 2002

China's Industrial Production Grows Fast in First Quarter

China's industrial output grew 10.9 per cent during the first three months of this year compared with the same period of 2001, the National Bureau of Statistics said Wednesday.

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China's industrial sector grew by 10.9 percent in the first quarter of this year, 2.4 percentage points more than the rate for the last quarter of 2001.

According to figures from the National Bureau of Statistics (NBS), the rise was equal to 649.4 billion yuan in added value.

During the period, state-owned enterprises and state-held companies achieved 357.8 billion yuan in added value, up 8.7 percent year-on-year; collective companies registered 56.9 billionyuan, up 8.3 percent; the figure for share-holding enterprises was231.1 billion yuan, up 12.7 percent; and the figure for foreign-funded enterprises was 163.6 billion yuan, up 10.5 percent.

The statistics show that the light industry sector, for the first time since 1998, outpaced the heavy industry, registering 259.6 billion yuan in added value, up 11.3 percent year-on-year. Its growth rate is 2.7 percentage points higher than that for the same period last year. The added value of the heavy industry reached 389.8 billion yuan, up 10.6 percent.

The electronic, telecommunications, transport equipment and electrical machinery manufacturing industries and the chemical andmetallurgical industries were the major contributors to the industrial growth, making up 48 percent of the total growth of industrial production, according to a NBS report.

The report also showed that in the first quarter of this year, the industrial sector exported 376 billion yuan worth of goods, up13.7 percent year-on-year. Exports in March grew 15.2 percent overthe same period last year. The manufacturing industries of electronic and telecommunications equipment and electrical machinery and the coal industry maintained a strong export momentum, growing 14.5 percent to 66.5 percent.

Meanwhile, the NBS said that industrial enterprises in the country sold 96.51 percent of their products in the first quarter,an increase of 0.13 percentage points year-on-year. Total output-sales ratio for March stood at 97.48 percent, remaining roughly the same as the figure for March last year.

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China's Industrial Production Grows 9.9 Percent in 2001