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the first half
bottleneck sectors
flooding(9)
The shortfall in the
of 1991(9).
was further exacerbated by the recent
since several flood-stricken provinces in
central and eastern China were important producers of silk
and cloth). Reportedly, many textile plants had been
running at half capacity due to
the shortage of raw
materials,
particularly cotton.
Constraints in the
sectors would give
rise to increased
bottleneck
inflationary pressures in the short term and impede the growth of China's economy in the longer term.
6.
the
Somewhat unexpectedly, the flood had not affected
summer harvest too seriously.
Total
output
of
(8)
year-on-year growth rate in real terms of:
1991 01 1991 02 1991 H1
(%)
(%)
(%)
Gross industrial output*
13.7
13.1
13.4
of which:
Energy
Electricity
9.5
7.4
8.4
Raw coal
-0.4
-1.1
-0.7
Crude oil
1.0
2.1
1.6
Raw materials
Pig iron
10.2
5.1
7.6
Steel
6.1
2.8
4.4
Cloth
-4.0
0.8
-1.5
Silk
1.3.9
7.6
10.6
* Excluding output from the village-run enterprises.
(9)
An
assessment of the impact of the flooding on China's economy can be found in CEC 10/91 "A Note on the Economic Impact of the Natural Disasters in China in 1991", which was circulated to members on 22.7.91.
(10) Heavy rain and floods have struck particularly hard the following eight provinces: Jiangsu, Auhui, Henan, Hubei, Sichuan, Guizhou, Hunan and Zhejiang. In 1989, these eight provinces accounted for 82.3% of China's total silk output and 47.5% of its cloth production.
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