Growth of industrial production may slow further

Updated: 2011-12-27 09:17


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BEIJING - Annual growth of China's industrial production is expected to slow further, to around 11 percent, in 2012, Minister of Industry and Information Technology Miao Wei said Monday.

The growth was lower than the 15.7-percent increase in the country's industrial value-added output in 2010 and an expected 14-percent rise for this year.

The industrial value-added output measures the final output value of industrial production, or the value of gross industrial output minus intermediate input, such as raw materials and labor costs.

Miao said at the ministry's annual work conference that the forecast has considered the targets set in the country's 12th Five-year Program (2011-2015) and the negative impact of increasing difficulties and uncertainties as some deep-rooted problems of the global financial crisis continue to weigh.

He expects the country's energy use and carbon emissions per unit of industrial value-added output to reduce by 5 percent and more than 5 percent year-on-year in 2012, respectively.

He noted that the government will enhance the coordination of its industry, fiscal and credit policies to avoid a plunge in the expansion of the country's industry sector.

The country will also step up efforts to promote technology innovation, upgrade the traditional industries, and foster the development of strategic emerging industries, Miao said.

He added that the country will launch a policy package in the first half of next year to support the development of small- and medium-sized enterprises. The package will include financial support and seek to accelerate the establishment of a public service platform for these enterprises.