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China's Industrial Sector to Grow 13.5% in August
China's industrial sector is predicted to achieve 199.5 billion yuan (US$24.04 billion) increase in August, or up 13.5 per cent on a year-on-year basis, according to a report released by the Economic Information Center of the State Economic and Trade Commission.
The accumulative increase of the industrial sector in the first eight months will hit 1,495 billion yuan (US$180.12 billion), up 11.6 per cent over the year-earlier period, it said.
The report affirmed that over 60 per cent of state-owned and state-holding enterprises grew rapidly from January to August, becoming a major driving force in China's industrial growth.
According to the report, most of the industrial sectors have experienced a steady growth in the first half year. Some spheres as electricity, rail transport and steel production have a more outstanding growth rate than others.
Meanwhile, the report noted that the country's retail sales in August will hit 262 billion yuan (US$31.57 billion), up 8.8 per cent, or a price-adjusted 10.2 percent rise.
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