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China industrial output up 6.1% yoy in May
June 11, 2015, 6:31 am

Premier Li Keqiang has set the nation’s 2015 expansion target at about 7 percent [Xinhua]

Premier Li Keqiang has set the nation’s 2015 expansion target at about 7 percent [Xinhua]

Industrial output in China grew 6.1 per cent year on year in May, up from the 5.9-per cent growth in April, official data revealed on Thursday.

National Bureau of Statistics also announced on Thursday China’s retail sales grew 10.1 per cent year on year to 2.42 trillion yuan ($396 billion) in May.

Fixed asset investment rose 11.4 per cent from a year earlier to 17.12 trillion yuan ($2.8 trillion) in the first five months of the year.  Investment in China’s property sector rose 5.1 per cent year on year to 3.23 trillion yuan ($528.21 billion) during the same period.

China’s policy makers unveiled further action May 10, with a third reduction in benchmark lending rates.

The Chinese leadership’s 2015 growth target is set at 7 per cent.

 

Source: Agencies

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