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Thursday, 25 October 2018 11:00

China’s manufacturing sector investment up

China’s manufacturing sector investment up

China’s investment in manufacturing grew 8.7 percent year-on-year in the first three quarters of 2018, signaling that corporate expectations for the future of the economy are improving despite mounting global trade uncertainties, Vice-Minister of Industry and Information Technology of China Xin Guobin said at a news conference in Beijing. According to Xin Guobin, the figure was 4.5 percentage points higher than that of the same period last year, indicating the resilience of China’s sprawling manufacturing sector, Caspian Energy News ( reports with reference to the official website of the State Council of the People’s Republic of China. 

 “Now we are very glad to see that the monthly investment growth rate has been rising for six straight months,” Xin said.

China has rolled out a slate of measures to lower corporate operational costs and streamline approval processes for investment in high-tech industries. From January to September, private investors demonstrated a rise in confidence toward manufacturing, with their investment surging 9.5 percent year-on-year. That is 5.3 percentage points higher than that of last year.

China’s industrial output expanded 6.4 percent year-on-year in the January-September period. Although 0.3 percentage points lower than the first half of this year, it was faster than what had been expected in the beginning of this year.

 “Industrial production has remained basically stable. We have taken coordinated steps to promote reform and make structural adjustments,” Xin added.

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Person in charge of the newsline: Olga Nagiyeva 

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