October 16, 2008

Chinese industrial output in Q1 up 16.4% YoY

China Knowledge quoted the National Bureau of Statistics announced that China's industrial output grew 16.4% YoY in Q1 2008. The growth of heavy industry was 17.3%, and light industry rose 14.7%.

According to the bureau, the industrial output of state owned and state held enterprises, collective enterprises and private sector share holding enterprises rose 12.9%, 11.6% and 18.9% respectively.

The report added that profits of large industrial enterprises rose 16.5% to CNY 348.2 billion, while the YoY rise of enterprises funded by foreign investors or investors from Hong Kong, Macao and Taiwan reached 14.3%. Moreover, output of motor vehicles and cars rose 15.8 % and 14.7% respectively. Crude steel and steel products expanded 8.6% and 12.2% respectively. Meanwhile, power and coal output grew 14% and 14.6% respectively.

According to the sourced during the period, the sales ratio that measures the percentage of industrial products sold against those went into inventory rose 0.5% to 97.7%.