China's industrial output increased 16.3% in the first 10 months of this year, state media reported Nov. 14, indicating production remained high despite economists' warnings about oversupply. Chinese factories reported production increased by 5.69 trillion yuan (US$701 billion) year-on-year, according to the official China Securities Journal, which cited Ma Liqiang, director of the Economic Operating Bureau under the National Development and Reform Commission.
The output growth rate was unchanged from the growth rate for the first nine months of this year and slightly lower than the 16.9% for the January to October period last year.
Ma said that during the first 10 months of the year, China's power generation was up 12.8% year-on-year, coal production rose 10.4% and coal reserves designated for power generation rose 125%.
Oil production rose 10.3%, oil imports were up 5.7%, value-added oil production was up 7.2%, diesel rose 9.7% and gasoline production was up 3.7%.
During the January-October period, freight transported by rail rose 7.3% and turnover at the country's ports reached 44.1 million containers, up 21.6% year-on-year.
For the leading 129 industrial products in China, 55.6% saw increased inventories year-on-year, the report said.
Copyright Agence France-Presse, 2005