Growth in China's industrial value-added output is likely to slow to around 10 percent year on year in the second half, but annual growth will be 13 percent, a senior official said Tuesday.
The growth rates compared with the 17.6-percent year-on-year increase in the first half this year and the 11-percent gain for 2009.
The slowdown in industrial production in the second half was due to last year's high comparison base and the government's efforts this year to adjust the structure of the economy and transform the economic growth model, said Xin Guobin, director of the Performance Inspection and Coordination Bureau of the Ministry of Industry and Information Technology.
Industrial value-added output measures the final results of industrial production, which is the value of gross industrial output minus intermediate inputs such as raw materials and labor.
"Judging from current economic indicators, China's economic growth will slow further," Xin said at a press conference.
Policies to cool the real estate market and an uncertain outlook for exports in the second half would contribute to the slowdown, he said.
China's gross domestic product rose 10.3 percent year on year in the second quarter of this year, down from 11.9 percent in the first quarter.
The government started a campaign in April to rein in soaring home prices and curb speculation in the property market, including tighter scrutiny of developers' financing, limited loans for third-home purchases, and higher down payment requirements for second-home purchases.
These measures would affect demand in various sectors, including construction materials, home appliances, steel and cement, Xin said.
"The speculation on a stronger yuan and spreading sovereign debt crisis in the European Union will add uncertainties to the country's second-half exports," he said.
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