China's industrial output to ease in 2012
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Shanghai Daily, December 27, 2011
China aims to grow its industrial output by 11 percent next year, easing from an estimated 13.9 percent increase in 2011, the industry minister said Monday.
Industry and Information Technology Minister Miao Wei said development in the industrial sector "won't be optimistic" next year, citing uncertainties in the global economy, China National Radio reported.
Industrial output is closely correlated with gross domestic product growth in China, a mainly manufacturing-driven economy.
Industrial production has lost steam in recent months. It grew 12.4 percent in November, moderating from the 13.2 percent rise in October. In 2010, industrial production gained 15.7 percent.
China also aims to cut energy consumption per unit of industrial output by 5 percent and water consumption by 7 percent in 2012.
Miao, speaking at the ministry's work conference in Beijing, said the government would launch implementation plans next year to help accelerate consolidation in industries such as steel, automobiles and cement.
