China aims at 11% industrial growth

15:41, January 28, 2010      

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China aims to realize an 11-percent growth of above-scale industrial added value and to reduce energy consumption per 10,000 yuan by 7 percent, said the Ministry of Industrial and Information Technology (MIIT) at a press conference yesterday.

China’s industrial economy development still faces prominent difficulties this year, said Zhu Hongren, chief engineer and spokesman of the MIIT.

"In 2009, China's above-scale industrial added value surged by 11 percent compared with 2008 with the growth rate down by 1.9 percentage points year on year. The above-scale industrial enterprises sales and output ratio in 2009 hit 97.67 percent,” Zhu said, adding that the stimulus packages for 10 sectors had good effects.

The upward trend in the domestic market is basically established, and the international market has seen positive signs. However, both internal and external economic environment is facing rising uncertainties, Zhu noted.

"Difficulties in achieving high growth of domestic demand, sluggish exports situation, dull willingness of private investment, financing difficulties of local governments, low residential income, weak foundation for global recovery and rising trade protectionism." Zhu named the specific difficulties for China's industrial economy.

He also mentioned restructuring and overcapacity issues. Industrial energy consumption accounted for 70 percent of the country's total consumption. Great efforts are needed to complete the aim that carbon dioxide emissions of per unit of GDP in 2020 should be 40-45 percent lower compared with 2005.

Zhu believed that China faced many challenges in the new round of competition of the new industrial economy. After the outbreak of the international financial crisis, the developed countries implemented the ‘re-industrialization' with the core of reviving the manufacturing industry, and put forward new concepts including green economy, low-carbon economy, as well as network and information security, striving to maintain a competitive advantage in emerging industries. "China's strategic emerging industries will confront more intensive competition,” He said.

By People's Daily Online
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