Industrial Output Growth SlowsThe industrial value added of China grew by 11.4 percent over one year ago to 209.5 billion yuan (US$25.24 billion) in October, 0.6 percentage points slower than the growth in September.According to figures that the National Bureau of statistics released in Beijing Thursday, China's industrial sector registered a total of 1,915.6 billion yuan (US$230.80 billion) worth of value added over the first ten months of the year, 11.6 percent more than in the same period of last year. State-owned enterprises (SOEs) saw a year-on-year growth of value added of 8.3 percent in October, 2.9 percentage points lower from the September rate. At the same time, the growth of heavy industrial output slowed down by one percentage point over September, while the growth of light industry inched up by a small margin. Due to a 14.1 percent drop in the output of cars in October, the automotive industry saw a 0.7 percent decrease in value added from the same month last year, compared with a 12.9 percent increase in September. The total output of automotives in October was more than 20,000 fewer than in September. Though the export of industrial products saw a 3.3-percentage-point decline in its growth rate on a year-on-year basis in October, the total exports for the first ten months grew by 26.2 percent over the same period of last year. In October, 97.37 percent of newly made industrial products were sold, an improvement of 0.36 percentage points over a year ago. |
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