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Recovery of China’s industrial economy on track: ministry

The recovery of China’s industrial economy is on track with strong resilience and momentum, the Ministry of Industry and Information Technology said Tuesday.

Citing the industrial output data published on Monday, Luo Junjie, a spokesperson for the ministry, said it showed that the growth rate of major economic indicators has stayed within a reasonable range.

The country’s value-added industrial output went up 11.8 percent year on year in the first three quarters of this year, putting the average Jan.-Sept. growth for the past two years at 6.4 percent.

The output of the high-tech manufacturing sector jumped 20.1 percent year on year in the first nine months, faster than the growth pace of the overall industrial output.

The strong performance resulted from multiple measures adopted to help and benefit companies, Luo said, adding that market entities’ profitability has improved and new drivers of economic growth have emerged.

The spokesperson, however, noted that the external environment is still complicated and unstable, with rising commodity prices and energy crunch putting more pressure on the economy.

The country will strive to support small and medium-sized enterprises, ensure the stability of industrial and supply chains, and sustain the positive trend of the economy, Luo said.
Source: Xinhua

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