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Industrial production rises 6.2%

By Li Xiang | | Updated: 2017-11-14 10:43

Industrial production rises 6.2%

China's industrial production rose 6.2 percent in October year-on-year, falling by 0.4 percentage point from last month, data from the National Bureau of Statistics showed on Tuesday.

Investment also saw slightly slower growth of 7.3 percent year-on-year in the first 10 months of this year, falling by 0.2 percentage point from that of the first nine months, according to the NBS.

Liu Aihua, a NBS spokeswoman, said that fluctuations in the economic data in October did not change the overall trend of China's steady economic growth with improved quality and efficiency.

Steady production growth, sound employment and stable consumer price indicated that the overall economic performance remained in the "reasonable" territory, which laid a solid foundation for the country's fulfillment of the whole-year economic target, Liu told reporters at a news conference in Beijing.

Chinese industrial enterprises reported total profit of 5.58 trillion yuan ($840 billion) in the first nine months of the year, up by 22.8 percent year-on-year. The growth rate was 14.4 percentage points faster than the same period of last year.

Growth of property investment slowed to 7.8 percent year-on-year in the first 10 months, 0.3 percentage point lower than that of the first nine months. Retail sales rose 10 percent year-on-year in October, falling by 0.3 percentage point from last month, according to the NBS.

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