China's industrial output expands 6% in H1

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China's value-added industrial output, an important economic indicator, expanded 6 percent year on year in the first half, official data showed Monday.

The growth rate was 0.5 percentage points lower than that recorded in the first quarter of the year, the National Bureau of Statistics said in a statement.

In June alone, industrial output increased 6.3 percent year on year, 1.3 percentage points faster than that registered in May.

The figure in June outshined the market expectations of moderate 5.2-percent growth, with manufacturing in fabricated metal and communication equipment expanding, according to an analysis from the China International Capital Corporation Limited.

In a breakdown by ownership, the output of state-controlled enterprises went up 5 percent year on year in H1, joint-stock companies up 7.3 percent and that of overseas-invested enterprises increased by 1.4 percent.

The industrial transformation and upgrading are picking up pace, bureau spokesman Mao Shengyong told a press conference as high-tech industries are weighing more in the overall industrial output.

High-tech industries maintained fast expansion, with the output for high-tech manufacturing up 9 percent year on year, three percentage points faster than overall growth.

In the January-June period, industrial output of high-tech manufacturing accounted for 13.8 percent of the overall industry, 0.8 percentage points higher compared with a year ago.

The value-added output of new energy vehicles and solar cells grew 34.6 percent and 20.1 percent, respectively.

China's value-added industrial output is used to measure the output of large companies each with annual main business revenue of more than 20 million yuan (about 2.9 million U.S. dollars).

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