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Last updated at: (Beijing Time) Thursday, October 24, 2002

China's Industrial Production Sees Rapid Growth

China's industrial added value grew 12 percent in the first three quarters of 2002, compared to the same period last year, according to the State Commission of Economy and Trade.


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China's industrial added value grew 12 percent in the first three quarters of 2002, compared to the same period last year, according to the State Commission of Economy and Trade.

The commission announced the latest economic statistics on Wednesday.

According to the commission's forecast, the country's industrial enterprises are expected to rake in profits of 530 billion yuan (63.9 billion US dollars) for the period, up 13 percent year-on-year. State-owned enterprises and those controlled by the state through shareholding are expected to make profits of 240 billion yuan (28.9 billion US dollars) during the period.

Ma Liqiang, a senior official of the commission, attributed the robust growth to remarkable growth in the energy sector, with coal production up 27.8 percent, and in the new and hi-tech industries, with the electronics and medicine sectors registering respective increases of 21.4 and 19.7 percent.

The machinery, metallurgy and building materials sectors saw rapid growth as a result of massive infrastructure investment, Ma said.

The automobile sector reported marked gains, with total output for the period reaching 2.5 million units and profits of 25.1 billion yuan (3 billion US dollars), up 53.3 percent compared to the same period last year.

China's WTO accession has brought benefits to the textile and other light industries, Ma said, noting that textile exports rose 11.7 percent and light industry product exports went up 17.5 percent during the period.


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