The value of China’s industrial output rose in May by 12.9 per cent year-on-year, the highest growth rate since December 1998, according to the National Bureau of Statistics. The bureau said that the electronics, telecoms gear, transport and electrical equipment industries accounted for more than 41 per cent of the month’s growth.
Industrial growth is being driven by exports, South China Morning Post said. Statistics from the foreign trade ministry showed that industrial exports in May were worth Yn158.2bn, 25.3 per cent more than in the same period of last year, compared with a growth rate of 18.8 per cent in April.
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