China’s industrial sector under downward pressure

Beijing, July 22 (IANS) China’s industrial sector still faces considerable downward pressure, although positive signs have emerged due to government support policies.

“Some regions, industries and businesses are facing increasing difficulties, and strong efforts are needed to stabilise and improve industrial operations,” Xinhua reported citing the Ministry of Industry and Information Technology (MIIT).

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

MIIT 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 percent in the second quarter of 2015, unchanged from the first quarter.

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