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People's Daily Online>>China Business

Industrial economic growth may slow down in Q1

By Zuo Ya (People's Daily)

15:37, February 09, 2012

Edited and translated by People's Daily Online

The industrial economic growth may slow further in the first quarter in 2012 due to varieties of uncertainties and destabilizing factors in the economic environment at home and abroad, and a relatively high growth in the first quarter of last year, said Zhu Hongren, chief engineer of the Ministry of Industry and Information Technology (MIIT).

Zhu said, "China's industrial economy is expected to maintain a steady and rapid growth in 2012 by virtue of some positive domestic conditions, such as expansion of domestic demand, steady growing investment, further increase in force driving consumer spending as well as policies for accelerating the transformation and upgrading."

The industrial growth was 13.2 percent, 12.4 percent and 12.8 percent in last October, November and December, respectively, showing a trend of stabilization. The growth in industrial added value above designated size is expected to maintain at around 11 percent this year.

The MIIT will fully maintain a steady and rapid growth of the industry economy, energetically promote industrial structure adjustment and optimization and upgrading, actively foster development of strategic emerging industries, firmly enforcing industrial energy saving and emission reduction, further improve the environment for small and medium enterprise development, as well as accelerate promotion of information technology and industrialization co-development, Zhu said.

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