Industrial output growth likely to slow in 2011
Post Date: 26 Feb 2011 Viewed: 562
China's industrial output growth may slow this year, said a senior official from the Ministry of Industry and Information Technology (MIIT) Thursday.
The full-year industrial added value output could rise 11 percent, down 4.7 percentage points from the 2010 growth rate, Xiao Chunquan, deputy director of the MIIT Performance Inspection and Coordination Bureau, said at a press conference.
The slowdown will result from the risk of falling exports as pressure for the yuan's appreciation grows and global demand growth remains weak, as well as inflation, the financial problems of small and medium-sized enterprises (SMEs), and environmental restrictions, Xiao said.
He said the full-year industrial added value output last year had risen 15.7 percent to 16 trillion yuan ($2.43 trillion), a sharp contrast from 7.72 trillion yuan ($1.2 trillion) in 2005.
From 2005 to 2010, the growth of industrial added value output grew over 11 percent on average annually, said Xiao.