- CNTV English - CCTV News

Industrial output growth drops, restructuring taking effect

08-02-2010 10:58 BJT

Watch Video

Play Video

Looking at the breakdown of July's PMI figures, the industrial output index dropped the most. Analysts see it is the positive sign of economic restructuring, which shows macro-economic controls are taking effect.

The sub-index for industrial output dropped for three months in a row. The index hit 52.7, down from 55.8 in June. Analysts say economic restructuring efforts are paying off.

Zhao Ying, Researcher of Inst. of Industrial Economics, CASS said "I think the drop in the industrial output index is expected. Last year our major task was to ensure economic growth, to curb a freefall of the economy. That goal was achieved. This year, the main goal was to restructure the economy. The macro-control policies are taking effect, leading to the slowdown of industrial expansion."

A drive to improve energy efficiency is taking a toll on heavy industry, pointing to a further slowdown in demand for imported raw materials and commodities.

Analysts say the current correction is healthy, and a sharp slowdown is unlikely.

Zhao Ying said "I don't think the economy will experience a double dip recession. So far the slowdown has been healthy. The economy is on track towards relying more on domestic demand. External demand is also gradually recovering."

Experts say whether the tightening on the real estate sector will affect other industries is still yet to be seen.

Editor:Xiong Qu |Source: CNTV.CN

Hot Videos view more

The celebrations are still continuing as the victorious coach, Joachim Loew, has been honored for his achievement in his hometown of Freiburg.
Germany coach Loew honored in hometown of Freiburg

Chinese men´s national team continued its preparations for next year´s Asian Cup, as they managed a one-all draw against visitors Jordan during a football friendly in Harbin, the capital city of Northeast China´s Heilongjiang Province.
China held to 1-1 draw by Jordan

The defending world champs came into the contest with a perfect 6-and-oh record, but they would be in for a tough first half before opening things up in the second.
USA beat Slovenia 119-76 in quarter-finals

Hot Stories more

UK authorities believe killer of James Foley is a British national

Across the UK the hunt is on for James Foley’s killer, who authorities believe is a British national. As Richard Bestic reports from London, Prime Minister David Cameron cut short his summer break to lead his government’s response.

Israeli war jets renews Gaza strike as truce talks stalled

Three Palestinians were killed and 40 others wounded in the intensive Israeli war jets´ airstrikes on the Gaza city on Tuesday night, shortly before an end of a 24-hour ceasefire in the Gaza Strip,

Missouri police arrest dozens after violent night

As the protests in the town of Ferguson, Missouri turned violent with police facing ´heavy gunfire´ from some ´criminal elements´, cops fired tear gas, stun grenades and arrested 31 demonstrators on Monday night.

Picture in news more

More Video News

Choose TV Program