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China Industrial added value up 18.5% in 1st 9 months

Source chinaview 2007-10-29

BEIJING, Oct. 26 (Xinhua) -- The industrial added value of China's major industrial enterprises grew by 18.5 percent in the first nine months compared with the same period last year.

The growth rate was the same as the second quarter and 0.2 percentage points higher than the first quarter, National Bureau of Statistics (NBS) said here on Friday.

The added value is officially defined as the industrial output value minus costs for intangible production, such as marketing, interest, fixed assets depreciation and maintenance and repairs.

During the period, 97.85 percent of the output was sold, 0.07 percentage points lower than the same period last year, said the NBS without elaborating.

Meanwhile, delivered exports totaled 5.22 trillion yuan, up 21.8 percent.

Industrial added value rose by 16.3 percent in the textile sector, 24 percent in non-metal minerals products and 22.9 percent in ferrous metals smelting and pressing.

The output of coal rose by 11 percent from a year earlier while crude oil rose by 1.4 percent, electricity by 16.4 percent and rolled steel by 24 percent.

The output of automobiles increased by 23.6 percent to 6.77 million units, of which, that of sedans was up 24.7 percent to 3.61 million units.

Major enterprises are those with an annual sales volume of at least five million yuan. (One U.S. dollar equals 7.48 yuan)