China’s industry, boosted by the powerful fiscal and monetary policies, are growing aggressively again despite of the global downturn. The industrial output rose 10.8 percent in July from a year earlier. It is the second time since September last year that output saw double-digit growth after the government put in place
The July growth rate was 3.9 percentage points lower than a year earlier level, but 0.1 percentage point faster than June.
Li Yizhong, Minister of Industry and Information TechnologyHowever, the overcapacity is overshadowing some sectors, particularly the steel and iron and the industry has to update itself to a road of more energy efficient, more environment friendly development.
How will China address those issues while recovering its high growth?
On August 13, two days after China released its data for the July economy, Li Yizhong, Minister of Industry and Information Technology, gave his answer to that question at a press conference in Beijing.
China releases July economic dataConsumption and investment grew steadily, responding well to the country’s stimulus package. Export is improving, but it is still the weakest in three. When will the growth “troika” bring China out of the shadow of the global financial crisis?
more All China's provinces achieve industrial growth in July In July, all of China's provinces achieved positive industrial growth. Between January and July, 13 provinces and cities, including Jiangsu, Shandong, Liaoning, Tianjin and Chongqing, achieved double digit industrial growth.
moreMinister: no new iron and steel projects within three years Li Yizhong, minister for the Ministry of Industry and Information Technology (MIIT) revealed on August 13 that MIIT is currently drafting a guide to mergers and acquisitions in the iron and steel industry. He also called for a stop to new iron and steel projects within three years.
moreMinister: greater market access needed Minister Li Yizhong, from the Ministry of Industry and Information Technology (MIIT) said at a press conference on August 13 in Beijing that industrial restructuring means it is necessary to draft and improve industrial policies in various sectors and raise market access. This is one of six priorities in industrial restructuring.
moreChina to release energy-saving guide for key industries in H2MIIT will issue guidance on energy saving and emission reduction for key industries in the second half of 2009. In addition, they will compare main standards of energy consumption of the steel and chemical industries with that of international advanced level to find the gap so that proper efforts will be made to catch up.
moreRural auto subsidy extendedThe policy, put in place earlier this year, has proven to be successful and will be extended, Li Yizhong, minister of industry and information technology, said at a news conference in Beijing yesterday.
moreMinister: Consumers' rights to be fully respected in filtering software-SpecialConsumers will have the full freedom of choosing to install the filtering software Green Dam in their computers nor not; however, the software will be installed in computers in public places like schools and web bars, announced Li Yizhong, minister for the Ministry of Industry and Information Technology.
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