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China's Industrial Output to Rise 13.5% in 2010: Official

iconOct 29, 2010 09:32
Source:SMM

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.
 

China macro economy
industrial output
Macro control policy

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