China's Industrial Output Grows 4.5% in August
China's total value-added of industrial enterprises above the designated size, an important economic indicator, expanded 4.5 percent year on year in August this year, official data showed.
"In August, the national economy operated in a stable manner on the whole. We adhered to the general principle of seeking progress while maintaining stability and implemented the new development philosophy accurately and comprehensively, strengthened macroeconomic control and focused on promoting high-quality development. The production demand continued to recover and employment and prices remained basically stable. The high-quality development continued to advance. The economy witnessed a generally stable situation and steady development," said NBS spokeswoman Liu Aihua at a press conference in Beijing.
On a monthly basis, the industrial output edged up 0.32 percent in August from the previous month, the National Bureau of Statistics(NBS) said in a monthly statement.
The enterprises above the designated size refer to those with an annual main business turnover of at least 20 million yuan (about 2.82 million US dollars).
The value-added of equipment manufacturing grew by 6.4 percent year on year, while that of hi-tech manufacturing surged 8.6 percent, 1.9 percentage points and 4.1 percentage points faster than the average industrial production growth, respectively.
As for consumption, retail sales of consumer goods went up 2.1 percent year on year in August to 3.8726 trillion yuan (about 545 billion US dollars). From January to August, the overall online retail volume reached 9.6352 trillion yuan (about 1.357 trillion US dollars), up 8.9 percent year on year. The retail sales of services increased by 6.9 percent year-on-year.
