(PTI): China’s industrial output is expected to rise an estimated 11 percent in 2010 based on an 8 percent economic growth target set by the government.
As China’s industrial production will likely have an 11 percent increase over next year, achieving the government’s target of 8% growth in Gross Domestic Product (GDP) will be “no problem,” Minister of Industry and Information Technology (MIIT) Li Yizhong said at a two-day conference starting Monday in Beijing.
The Chinese Minister said the government would push forward with its merger and acquisition strategy in the industrial sectors to increase industrial concentration.
Li said the development of industrial production would ensure the 8 percent growth of the country’s GDP the government had projected for this year.
China’s industrial output moved into double-digit growth in June, up from the 3.8 percent in the first two months of the year.
“The recovery base has been gradually consolidated and the macro economic policies will still be in place to boost the economy next year,” Li said.
“The growth pace is necessary, achievable and appropriate. We will not set the target too high”, he added.