China's Industrial Output up 12.4 Percent in June

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Last updated at: (Beijing Time) Wednesday, July 10, 2002

China's Industrial Output up 12.4 Percent in June

China's industrial output grew 12.4 percent in June from a year earlier, fuelled by surging growth in the electronics, telecommunications and auto sectors, official statistics said Wednesday.

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China's industrial output grew 12.4 percent in June from a year earlier, fuelled by surging growth in the electronics, telecommunications and auto sectors, official statistics said Wednesday.

June's output increase to 278 billion yuan (US$33.5 billion), announced by the National Bureau of Statistics, marks a slight drop on May's growth of 12.9 percent, the fastest expansion since 1998.

Industrial exports remained healthy, with growth in June of 22.9 percent from a year earlier, although this was a slip from May's 25.3 percent rise -- the biggest for 20 months -- the bureau said.

The rapid expansion of electronics, telecoms and auto output accounted for almost a third of June's total growth, a statement said, with output of computer products in particular leaping 190 percent from a year earlier.

Auto output grew 33.7 percent with car production rising 46.8 percent and truck output by 48.4 percent, the figures showed.

Overall, in the six months to June, industrial output grew 11.7 percent from a year earlier, having grown by 11.6 percent in the five months to May.

China has set a 7.0 percent target for growth in Asia's second largest economy this year.

On Tuesday, a National Bureau of Statistics senior economist said that this figure had been exceeded in the first six months of the year, forecasting 7.5 percent growth for the period.

"China is on the right track to realize its set economic goals," Yan Xianpu told Business Weekly.

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