Industrial output to grow by 11%
Updated: 2011-10-26 14:20
BEIJING -- China's industrial value-added output will grow by 11 percent this year and next, despite uncertainties including global economic turmoil, weak outbound demand and high inflation, a senior official said Wednesday.
"The country will continue its efforts to promote economic restructuring and energy-saving and emission reduction plans, which may potentially slow industrial output growth over the rest of the year," Xiao Chunquan, deputy director of the Performance Inspection and Coordination Bureau of the Ministry of Industry and Information Technology, said at a press conference.
"But the country will meet its full-year target of 11-percent output growth set at the beginning of 2011," Xiao said.
During the first three quarters of this year, the country's industrial value-added output increased 14.2 percent year-on-year, down 0.1 percentage point from the growth in the first half of this year, according to data from the National Bureau of Statistics.
Industrial value-added output measures the final results of industrial production, which is the value of gross industrial output minus intermediate inputs, such as raw materials and labor costs.