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All China's provinces achieve industrial growth in July
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16:16, August 14, 2009

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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.

Since the start of March 2009, the decline in industrial growth for China's large enterprises has been curbed, and the year-on-year growth rate of their industrial added-value has gradually picked up from 3.8 percent between January and February to 10.8 percent in July.

In the first seven months of 2009, the industrial added-value of large Chinese enterprises grew by 7.5 percent year-on-year, with double-digit growth rates achieved in June and July.

The raw materials industry and the equipment manufacturing industry have become the most direct beneficiaries of China's investment-driven economic growth. Between January and July, the raw materials industry's industrial added-value grew by 7.8 percent year-on-year, and by 13 percent in July.

The consumer goods industry is targeting the domestic market. Its industrial added-value grew by 9.5 percent year-on-year, 2 percentage points faster than the overall industrial growth rate.

The export-oriented electronic manufacturing industry was heavily affected by the global financial crisis. In the first seven months, its industrial added-value rose by only 0.8 percent over the same period last year. However, the growth rate rebounded to 6.5 percent in June and 5.9 percent in July.

By People's Daily Online

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