Economy

China expects 13% growth in industrial production in 2010

(Xinhua)
Updated: 2010-09-07 14:40

BEIJING - Growth in China's industrial value-added output is likely to slow to around 10 percent year on year in the second half but whole-year growth will be 13 percent year on year, a senior official said Tuesday.

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The slowdown in industrial production in the second half will be because of last year's high comparison base and the nation's efforts this year to adjust the structure of its economy and transform its economic growth model, said Xin Guobin, director of the Performance Inspection and Coordination Bureau under China's Ministry of Industry and Information Technology (MIIT).

China's industrial value-added output rose 17 percent year on year in the first seven months of the year, a growth rate 9.5 percentage points higher than the same period last year, according to MIIT statistics.

Industrial value-added output measures the final results of industrial production at industrial enterprises, which is the value of gross industrial output minus intermediate inputs such as raw materials and labor.