Chinese Industrial Output Grows 12.8 PercentChina's industrial output continued to pick up in July, registering an year-on-year growth of 0.6 percentage points over that of June.According to figures released by the National Bureau of Statistics (NBS) Wednesday, China's industrial output grew to 196 billion yuan in July, 12.8 percent more than one year ago. During January to July, industrial output totaled 1.29 trillion yuan, 11.4 percent more than in the same period last year. Output of heavy industry grew by 14.7 percent year-on-year to 119.1 billion yuan in July, 1.2 percentage points higher than growth in June. Light industrial output totaled 76.9 billion yuan, increasing 10.6 percent over one year ago. State-owned enterprises saw a 12.8 percent growth of output on an year-on-year basis, 0.9 percentage points higher than in June. However, collective enterprises reported a slowdown in output growth, with the increase in July one percentage point lower than in June. Shareholding companies registered a growth rate that was 1.6 percentage points higher than in June, while foreign-funded companies maintained the same growth rate as in the previous month. Chinese industrial enterprises exported 117.7 billion US dollars worth of products to other parts of the world in July, 27.4 percent more than in one year ago. The growth was two percentage points higher than in June. During January to July, total value of exports of industrial products was 26.6 percent higher than in the same period of last year. Sales to production ratio rose to 97.84 percent in July, the highest level of the year. |
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