BEIJING - Data
analysis by the State Development and Reform Commission
shows that growth of light industrial production in
China remained stable while that of heavy industrial
production kept slipping in the first 10 months of this
year.
China's industrial growth was 16.9% in the
first 10 months, 0.1 percentage points lower than in the
first three quarters. State-owned and large non-State
owned industrial enterprises realized a combined added
value of 488.524 billion yuan in October alone, hitting
a record high and rising 15.7 year on year, but the
growth is 0.4 percentage points lower than in September,
0.5 percentage points lower than in June and 0.2
percentage points higher than in July.
Light
industrial production grew 15.1 year-on-year in October,
2004, equal to the growth speed in September, while
heavy industrial production grew only 16.6%, 0.6
percentage points lower.
In the first 10 months,
light industrial production grew 15.5%, 0.1 percentage
points higher than in January-September but 0.1
percentage points lower than in the first half; and
heavy industrial production grew 18.4%, 0.1 percentage
points lower than in the first three quarters and 1.3
percentage points lower than in the first half.
Despite slowed growth, heavy industry generated
an added value of 329.909 billion yuan in October,
accounting for 67.67% of the total industrial added
value of the country and 0.51 percentage points higher
than in September; light industry generated an added
value of 158.616 billion yuan, accounting for 32.33% of
the total and 0.51 percentage points lower than in
September.
Fueled by rapid growth of oil/natural
gas mining, coal mining and dressing, and power
production, industrial output of State-owned and
controlled enterprises grew 13.8% year on year in the
first 10 months, equal to the level in the first three
quarters; that of collective enterprises, 10.3%, 0.2
percentage points lower; that of joint-stock companies,
16.9%, 0.1 percentage points lower; and that of
foreign-invested enterprises, 20.1%, 0.2 percentage
points lower.
Due to a sharp price hike in crude
oil, finished oil and chemical products, prices of coal,
steel products and nonferrous metals kept increasing in
September.
Ex-factory price of industrial
products grew 7.9% in September and 5.5% in
January-September; profit realized by large industrial
enterprises was 808.8 billion yuan in the first nine
months, up 39.8%, and the growth is 1.3 percentage
points higher than in January-August; and loss amount
suffered by large industrial enterprises, 92.4 billion
yuan, up 7.2% and the growth is 1.5 percentage points
lower than in January-August.
By the end of
September, the amount of capital occupied by finished
industrial products was 991.3 billion yuan, up 21.5%
year on year and the growth is one percentage point
higher than at the end of August; accounts receivable,
2.1213 trillion yuan, up 16.7% and the growth is 0.1
percentage points higher than at the end of August.
After summer, with the situation of tight supply
of coal, power and oil being eased, the output of some
major industrial products has rebounded. To be specific,
auto output grew 3.8% in October this year, and growth
is 2.6 percentage points higher than September; air
conditioner, 65.3%, 3.6 percentage points higher;
cement, 13.3%, 3.6 percentage points higher; and the 10
kinds of nonferrous metals, 18.4%, 5.6 percentage points
higher.
Meanwhile, output of color TV sets and
chemical fiber grew only 6.3% and 8.7% in October, and
the growth is 8.8 percentage points and 6.1 percentage
points lower than in September respectively.
Output of steel products grew 21.5% in October,
and the growth is 1.7 percentage points lower than in
September but 7.5 percentage points higher than in May.
Pulled by price hike of crude oil, oil and
natural gas extraction industry in China realized a
profit of 126.9 billion yuan in the first nine months,
up 30.2% year on year, and the growth is 7.6 percentage
points higher than in January-August.
Meanwhile,
steel industry profit in the period was 69.9 billion
yuan, up 61.1%, and the growth is 0.8 percentage points
lower than in January-August; that of nonferrous metal
industry, 19.7 billion yuan, up 72.7%, 10.8 percentage
points lower; and that of the building materials
industry, 27.2 billion yuan, up 76.3%, 12.6 percentage
points lower.
(Asia Pulse/XIC)
Nov 25, 2004
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