The growth rate of industrial production in China slowed down
in July by two percentage points over the
previous month to 8.1 percent year-on-year, official figures show.
According to figures released by the National Bureau of Statistics
(NBS) recently, industrial production grew 10.7 percent year-on-year
during January-July, 0.3 percentage points slower than in the first
half of the year.
NBS said that the slowdown in industrial production growth was due
to a number of factors, including weakening growth momentum in the
global economy, high temperatures hindering production in some parts
of the country during the summer season and a relatively high growth
rate in the same month of last year.
According to NBS figures, the added value that Chinese industrial
enterprises produced in July totaled 220.1 billion yuan (US$26.52
billion), compared with 1,501.2 billion yuan (US$180.87 billion)
for the first seven months of the year.
State-owned industrial enterprises continued to maintain rapid growth
in production in July, boosting the added value by 7.9 percent year-on-year
to 124.5 billion yuan (US$15 billion).
The production of share-holding companies grew 8.8 percent in July,
while the production of overseas-funded companies, collective enterprises
and township enterprises rose 9.6 percent, five percent and 5.9
percent respectively.
In July, heavy industry saw a faster production growth rate than
light industry. |
