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China’s industrial output up 7.2 pct in first two months

(People's Daily Online)    16:30, March 14, 2018

China’s industrial output grew 7.2 percent in the first two months of 2018 year-on-year, compared with a 6.2-percent increase in December 2017, official data showed Wednesday.

“The country’s industrial structure continued to improve, as the value added of high-tech and equipment manufacturing industries grew by 11.9 percent and 8.4 percent, respectively,” Mao Yongsheng, spokesperson for the National Bureau of Statistics (NBS), said at a press conference.

Ownership analysis showed that the industrial output of state-holding enterprises and share-holding enterprises expanded 9.0 percent and 7.3 percent, respectively, while the industrial output of collective enterprises shrank 2.3 percent, according to NBS.

The production of new energy vehicles soared 178.1 percent year-on-year, while integrated circuits production and industrial robot production grew 33.3 percent and 25.1 percent, respectively, said Mao.

The mining sector reported a 1.6-percent increase year-on-year, the NBS data showed.

China is working on reducing the overcapacity in traditional sectors, including coal, iron, and steel, in order to restructure and optimize industry.

“By focusing on the supply-side structural reform and high-quality development, China’s economy has maintained steady performance and good growth momentum, getting off to a good start with new growth drivers,” Mao said.

(For the latest China news, Please follow People's Daily on Twitter and Facebook)(Web editor: Hongyu, Bianji)

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