China's industrial output records a double-digit growth of 10.7 per cent in June
16 Jul 2009
China's industrial output grew 10.7 per cent in June from a year earlier, the Chinese National Bureau of Statistics (NBS) said today. The growth was faster than the 8.9 per cent in May, indicating improved economic performance.(See: China's May industrial output improves, grew 8.9 per cent)
This is the first time after the global crisis, which affected since September 2008 that China's industrial output has touched a double-digit growth.
China's 4-trillion-yuan ($588.24 billion) stimulus packages and various other measures adopted by the government like scrapping lending restrictions has helped in boosting the economy.
Li Xiaochao, spokesman of the NBS said at the press conference, "The industrial production is accelerating, and the profit drop is easing."
The total value added of industrial enterprises above the designated size of an annual income over 5 million yuan was up 7.0 per cent year-on-year in the first half, down 9.3 percentage points than in the same period last year, according to statement on NBS website.
The growth rose in the second quarter to 9.1 per from 5.1 per cent in the first quarter.