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Chinese Industrial Province Scores Steady Growth
Northeast China's Liaoning Province scored 121.5 billion yuan (about 14.6 billion U.S. dollars) in industrial output value in the first five months this year, up 15.3 percent year-on-year, the provincial economic and trade commission reported.
Output value of state-owned and state-controlled companies in this old industrial base of China totaled 74.4 billion yuan (about 8.96 billion U.S. dollars) in the period, up 13.7 percent from a year earlier.
Sales/production ratio for the state enterprises reached 97.6 percent, or 1.5 percentage points more than the same period last year.
Local officials attribute the fast growth to the following reasons:
-- Increasing market demand resulted in a rise of 26 percent rise in the output of textiles, 64 percent in motor vehicles, and 17.5 percent in the volume of crude oil processed.
-- Prices of raw materials increased thanks to the healthy trends in markets both at home and abroad. Eleven large enterprises in the province such as Anshan and Benxi steel works contributed economic growth of 2.82 percent.
-- Local marketing efforts in the past five months has improved local industrial sales by 22.5 percent compared to the same period last year.
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