BEIJING. Oct. 29 -- China's industrial value-added output in 2010 is expected to be 13.5 percent more than in 2009, spokesman for the Ministry of Industry and Information Technology (MIIT) Zhu Hongren said at a news conference Thursday.
China's economy is undergoing a key period of transformation and returning to steady growth, Zhu said.
According to data from the National Bureau of Statistics, industrial value-added output expanded 16.3 percent year on year in the first nine months, with third quarter industrial value-added output rising 13.5 percent.
Zhu said China will shut down backward production facilities in a number of industries.
By the end of the year, 30 million tons of iron foundry capacity will be eliminated while 91.55 million tons of cement-making facilities are closed. Some 8.25 million tons of steel-making capacity will also be shut down.
Industrial value-added output measures the final results of industrial production at industrial enterprises. It is the value of gross industrial output minus intermediate inputs, such as raw materials and labor.
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