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Last updated at: (Beijing Time) Thursday, April 10, 2003

China's Industry Grows Rapidly in First Quarter

China's industry grew rapidly in the first quarter of 2003, with the added value of large enterprises reaching 834.3 billion yuan (100 billion US dollars), up 17.2 percent year on year.


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China's industry grew rapidly in the first quarter of 2003, with the added value of large enterprises reaching 834.3 billion yuan (100 billion US dollars), up 17.2 percent year on year.

Figures released Thursday by the National Bureau of Statistics (NBS) show heavy industry grew by 19.2 percent over the same period last year, 5.1 percentage points more than that of the light industry due to expanding domestic demand, especially the rapid growth of fixed asset investment.

Over half of the driving power for industrial growth in the first quarter came from the following six industries: the communication equipment industry, computer and other electronic equipment manufacturing, transport equipment, the chemical industry, metal production, general-use equipment and textiles.

Vehicle manufacturing maintained its lead in industrial growth. Over one million motor vehicles were produced in the first quarter, a 54 percent increase over the same period last year, and car production was doubled.

The production of electronic communication products, including mobile phones and computers, grow by over 40 percent over the same period of 2002. The production of steel products, most chemical materials and engines also maintained rapid growth.

Exports of industrial products increased 30.2 percent year on year in the first quarter, accounting for one fifth of the driving power of industrial growth.


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