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Chinese industrial economy's recovery on track: Ministry

21
Oct '21

Pic: Shutterstock/humphery

The recovery of China's industrial economy is on track with strong resilience and momentum, according to the ministry of industry and information technology, whose spokesperson Luo Junjie recently said industrial output data shows the growth rate of major economic indicators has stayed within a reasonable range and multiple measures to benefit companies led to the performance.

The country's value-added industrial output went up 11.8 per cent year on year in the first three quarters of this year, putting the average January-September growth for the past two years at 6.4 per cent.

The output of the high-tech manufacturing sector jumped by 20.1 per cent year on year in the first nine months, faster than the growth pace of the overall industrial output, an official news agency reported.

The profitability of market entities has improved and new drivers of economic growth have emerged, Luo said.

He, 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 added.

Fibre2Fashion News Desk (DS)

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