Golden era ends for industrial growth

Growth in industrial activity slowed this year to 8.3 percent, the weakest expansion since 1998 when the figure began to be announced, and conditions will remain difficult in the years ahead as the nation seeks a new economic model, the government warned on Monday.

Minister of Industry and Information Technology Miao Wei said industrial value-added output will grow at an "intermediate speed" in the foreseeable future as the broader economy slows. The ministry has set next year's target at about 8 percent.

"A moderate growth rate will be the 'new normal' as the country faces strong challenges in lifting growth while tackling overcapacity in industries such as steel, cement and flat glass," Miao said.