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China Reports Sustained Rapid Growth in Industry
China's industry maintained its momentum of rapid growth in August, with monthly output value increasing 12.8 percent year on year to 201.2 billion yuan (US$24 billion).
According to figures released by the National Bureau of Statistics Monday, total industrial output value for the January-August period amounted to 1,496.8 billion yuan (US$180 billion), 11.6 percent more than in the same period last year.
The output value of the heavy industry sector grew by 14.9 percent year on year to 123.1 billion yuan (US$14.83 billion) in August, with the growth rate 0.2 percentage points higher than that of July; while the output value of the light industry sector climbed up by 10.3 percent from a year earlier to 78.1 billion yuan (US$9.41 billion).
In August, state-owned enterprises saw a 12.1-percent growth in output value on a year-on-year basis; and collective enterprises maintained stable during the month at a rate of eight percent.
Joint-stock companies, which are playing an increasing role in the Chinese economy, had an increase of 0.4 percentage points in August on a monthly basis.
The bureau also reported that 98.16 percent of the industrial goods produced in August were sold that month, a sales to production ratio 0.32 percentage points higher than that of July.
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