G.F. 326
CONFIDENTIAL #3
2
terms
(2)
For the first half of 1988 as a whole, the
value of gross industrial output was Rmb 577.3 billion,
17.2% higher than in the first half of 1987.
3.
Within the industrial sector, the growth rates
of the non-state sectors in the first half of 1988 were
even higher than average. Output of township
industries
(3)
increased by 32.8% in real terms to a
value of Rmb 76.8 billion, while that of Sino-foreign
equity joint ventures, cooperative joint ventures and
foreign-owned enterprises increased by 55.3% in real terms
to a value of Rmb 17.2 billion.
4.
The growth rate of light industries was
slightly faster than that of heavy industries. In the
first half of 1988, the output of light industries rose by
18.1% in real terms to Rmb 290.7 billion, while that of
heavy industries rose by 16.2% to Rmb 286.6 billion. The
growth momentum in the industrial sector, which has been sustained since the fourth quarter of 1986, was exerting
strong pressure on the bottleneck sectors. In the
(2)
Gross industrial*
output
(Rmb bn)
Year-on-year growth rate
(8)
1986 01
1987 Q1
1988
aaaa aaaa aa
198.7
4.4
Q2
229.7
5.3
Q3
223.6
8.8
04
244.6
15.9
226.7
14.1
Q2
266.0
15.8
03
259.2
15.9
Q4
277.4
13.4
264.6
16.7
312.7
17.6
Q2
At constant (1980) prices, excluding output from village-run enterprises.
(3) Village-run enterprises not included.
CONFIDENTIAL **