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China’s industrial output aids recovery prospects
September 10, 2013, 9:26 am

Chinese productivity has become it the leading car manufacturer in the world [Getty Images]

Output in the first eight months surged 9.5 per cent compared with a year earlier [Getty Images]

Fresh new indicators released by China on Tuesday shows signs of a recovery for the world’s fastest growing economy.

China’s industrial production gained traction in August with its value-added output expanding at its fastest pace in 17 months, according to official data released Tuesday.

A National Bureau of Statistics (NBS) statement said the country’s total industrial value-added output grew by 10.4 per cent year-on-year last month, up 0.7 percentage points over July, marking the fastest growth since April last year.

Output in the first eight months surged 9.5 per cent compared with a year earlier, and output increased 0.93 per cent in August over July, the statement said.

The country’s industrial value-added output measures the output of Chinese companies with annual revenues above 20 million yuan ($3.25 million).

China’s urban fixed-asset investment also grew 20.3 per cent year-on-year in the first eight months of 2013, up 0.2 percentage points from the figure for the first seven months, the NBS said on Tuesday.

Total investment stood at 26.26 trillion yuan ($4.26 trillion) in the January-August period, the bureau said.

Meanwhile, China’s exports rose 7.2 per cent year on year to $190.73 billion in August, according to customs figures released on Sunday.

Source: Agencies

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