China's industrial value-added output up 10%

BEIJING -- China's industrial value-added output is expected to increase 10 percent this year, showing that industrial production has remained stable despite the risks of a slowing economy.

Industrial production is expected to contribute to at least 40 percent of overall economic growth in 2012, and industrial profits are likely to remain flat from last year, said Miao Wei, China's minister of industry and information technology, at the ministry's annual meeting.

Next year, the ministry will target 10-percent annual industrial value-added output growth. Energy use per capital of industrial value-added output should be lowered by 5 percent, and water use per capital of industrial value-added output should be cut by 7 percent.

Miao said stable growth this year was sustained by massive technological upgrading and key industrial projects.

In the first 11 months, industrial investment reached 13.9 trillion yuan ($2.2 trillion), 11.3 trillion yuan of which was in the manufacturing sector.

During the same period, smartphone sales increased by 170.3 percent, and sales of subsidized home appliances in rural areas rose 18.1 percent.

Auto exports are likely to reach one million units, and e-business revenue will exceed 7 trillion yuan.

Miao said China's industrial development faces good future growth momentum and has embarked on the path of restructuring. High-quality, efficient growth will become the future characteristics.

Monthly value-added industrial output in 2012

China's Nov industrial output rises 10.1%

China's Oct industrial output rises 9.6%

China's industrial value-added output up 10%