China expects 11pc industrial output growth in 2012

BEIJING, Dec 26 (Reuters): China's industrial output is expected to grow 11 per cent for 2012, easing from an estimated 13.9 per cent in 2011, China's industry minister said Monday. The forecast by Miao Wei, the Minister of Industry and Information Technology, will also serve as the official target for China's industrial output, China's state radio reported on its website (www.cnr.cn). Miao was quoted by the radio as saying that China's industrial development in 2012 "would not be optimistic" partly due to an uncertain global economy. China's industrial sector has lost steam in recent months with annual industrial output growth falling to 12.4 per cent in November from 13.2 per cent in October and down from the year's high point of 15.1 per cent in June. The annual rise of China's industrial output, which covers enterprises with a minimum annual revenue of 20 million yuan ($3.16 million), is closely correlated with GDP growth in the world's second biggest economy.