China's Auto Manufacturing Leads Way in Industrial Growth

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Last updated at: (Beijing Time) Wednesday, September 11, 2002

China's Auto Manufacturing Leads Way in Industrial Growth

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China's auto manufacturing contributed the most to the growth of the country's industry in August, leaping to the top of the 40 industrial sectors in China, the National Bureau of Statistics (NBS) announced Tuesday.

The NBS said that China's industrial sector remained on the fast track, registering a year-on-year 12.7 percent growth in August this year. The hot sales of autocars led to a contribution of 14.4 percent in the transport equipment manufacturing sector.

The sector's incremental value reached 263.4 billion yuan (about 31.8 billion US dollars) in August, with a total value in the first eight months this year of 1.97 trillion yuan (about 237.5 billion US dollars), according to the bureau's monthly industrial report.

The five major industrial sectors of transport equipment manufacturing, telecom equipment manufacturing, textile, chemical and metallurgy, created 46.9 percent of the whole industrial growth in August, in which the proportion of metallurgy surged from 4.9 percent to 5.9 percent due to the rapid growth of steel and steel products.

The NBS said that enterprises of all types kept a double-digit growth in August. The state-owned and state-controlled enterprisesgrew by 11.2 percent over the same period last year, with its incremental value totaling 138.8 billion yuan.

The value of collectively-owned enterprises at 23.1 billion yuan reflects an increase of 10.5 percent, while share-holding firms and foreign-funded firms increased by 13.2 percent and 13.5 percent respectively.

The NBS noted that the value of industrial exports hit 170.6 billion yuan in August, up 24.9 percent year-on-year, 1.2 percentage points faster than that of last month.

Sales of industrial products reached 98 percent of the total output in August, 0.61 percentage points higher than the last month, while the sales during January-August reached 97.47 percent,the bureau said.

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