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Industrial Value to Grow by 10.1 Percent in First Quarter
The industrial added value (IAV) in China is expected to grow by 10.1 percent in the first quarter of this year to hit 585.2 billion yuan, sources with the State Economic and Trade Commission said Wednesday.
The IAV in January and February totaled 362.9 billion yuan or up 10.2 percent on an annual basis, 0.2 percentage points down from the growth rate of corresponding period of last year.
The IAV for state-owned and state-controlled enterprises in the first two months hit 219.6 billion yuan or up 10.3 while shareholding enterprises rose by 11.9 percent to stand at 100.8 billion yuan.
However, industrial growth for collectively-owned enterprises and overseas enterprises dropped by 0.9 percentage points and 1.7 percentage points respectively during the same period to hit 41.3 billion yuan and 84 billion yuan.
The commission said state-owned and state-controlled enterprises as well as heavy industry contributed most to the overall industrial growth of the country in January and February, while light industry and the collective industry contributed less.
Officials with the commission said that China's increased investment in infrastructure is having an growing positive effect on industrial growth, but growth potential in some sectors still lags behind.
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