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China's industrial growth to continue amid increasingly complicated conditions: official

Source:   Time:

BEIJING, July 21 (Xinhua) -- China's industrial growth is expected to increase in the latter part of this year, but uncertainties will remain amid increasingly complicated domestic and overseas conditions, a senior official said on Thursday.

Although the economy has maintained steady and fast growth, some industries and enterprises have experienced difficulties, Zhu Hongren, chief engineer of the Ministry of Industry and Information Technology (MIIT), said at a press conference.

Small businesses have faced greater difficulties amid a slow global economic recovery, high commodity prices and labor costs and limited access to bank lending, he noted.

While discussing the impact of the national stimulus package on industrial enterprises, he said that it was natural for different business entities to respond to the stimulus in different ways.

However, he said the government should retain the stimulus policies, and changing them to be more specifically targeted would help prevent regional economic problems from spreading to the rest of the country.

China's value-added industrial output growth decelerated from March's 14.8 percent to hit 13.4 percent in April and 13.3 percent in May, leading some to believe that the country's economy has suffered a drastic slowdown. China's industrial enterprises account for 42 percent of the national economy.

Value-added industrial output growth picked up in June, reaching 15.1 percent.

Commenting on the nation's industrial energy saving drive, Zhu said electricity consumption grew 12 percent in the first half, which outstripped that of the GDP.

He noted the nation also faced tougher goals for eliminating outdated industrial capacity.

At a State Council, or Cabinet, meeting held on Tuesday, the government said it will press ahead with reforms of resources taxes and environmental taxes, and adjust import and export duties to curb exports of high energy-consuming and high-pollution products.

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