Source: CCTV.com

07-24-2008 14:16

The first half of the year has seen fast and steady growth in China's industries with large-scale enterprises posting a 16 percent spike in revenues from the same period in 2007. While policies targeting high-energy-consumers seem to be yielding some results, with definite falls in rates of expansion.

The first half of the year has seen fast and steady growth in China's industries with large-scale enterprises posting a 16 percent spike in revenues from the same period in 2007.

From January to June this year, output from enterprises with annual sales incomes of more than 5 million yuan increased 16 percent, compared to the same period last year.

The high tech industry with major stakes in the electronic and information industry grew by 17 percent, 0.5 percentage points higher than same period last year. But for the six high-energy-consumption industries, those in steel, nonferrous, construction material, oil refining, chemical and power, grew by 14 percent. That's a five percentage point drop from the first half of last year.

Li Yizhong, Minister of Ministry of Industry & Information Technology, said, "We hope to further slow down growth rates in high energy consumption industries. But we hope to push up expansion rates in high tech and mechanical industries, so they are above average. And we hope to achieve these through macro control measures."