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China industrial sector battling downward pressure
July 22, 2015, 5:15 am

A labourer works at a spinning mill in Xiajin County, east China’s Shandong Province, June 12, 2014 [Xinhua]

A labourer works at a spinning mill in Xiajin County, east China’s Shandong Province, June 12, 2014 [Xinhua]

China’s industrial sector still faces considerable downward pressure, although positive signs have emerged due to government support policies, the Ministry of Industry and Information Technology (MIIT) said on Wednesday.

“Some regions, industries and businesses are facing increasing difficulties, and strong efforts are needed to stabilize and improve industrial operations,” said MIIT spokesman Zhang Feng at a press conference.

The comments came after data showed China’s industrial output grew 6.3 per cent year on year in the first half of 2015, slightly down from a 6.4-per cent increase in the first quarter.

In an encouraging sign, the growth rate has gradually recovered from 5.6 percent in March, the lowest level since the global financial crisis in 2008.

Zhang said as China’s pro-growth policies and reforms gradually filter through, the sector will see more positive factors to sustain the improving trend.

China’s economy posted better-than-expected year-on-year growth of 7 per cent in the second quarter of 2015, unchanged from the first quarter.

 

Source: Agencies

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