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China industrial output expansion better than expected: official

2019-01-16 15:00

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China's value-added industrial output, an important economic indicator, expanded 6.3 percent year-on-year in the first 11 months of 2018, higher than the 6 percent annual target, a senior official said Wednesday.

"Even if the industrial growth rate remained slow in December, China is able to ensure that its full-year target can be achieved," said Xin Guobin, vice minister of industry and information technology, at a press conference.

China's industrial growth in December and for the whole year will be unveiled later this month by the National Bureau of Statistics.

Xin said that profits of China's major industrial firms grew 11.8 percent year-on-year in the first 11 months of 2018.

China has been keeping its industrial growth within a reasonable range and the actual result was better than expected, according to Xin.

Industrial output, officially called industrial value added, is used to measure the activity of designated large enterprises with an annual revenue of at least 20 million yuan (about 2.96 million U.S. dollars).
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