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output (7).
Besides, inadequate transportation facilities
were also adversely affecting the production of such key
commodities as coal and crude oil.
These capacity
constraints aggravated the inflationary pressures.
11.
Although wage rates in China continued to rise in
recent years, their contribution to inflation in China was
comparatively less significant. Wage rates rose by 9% in real terms in 1990, which was higher than the growth rate
of 5.2% in real GNP. But in 1991 and 1992, the increases
in real wage rates, at 4% and around 8% respectively, were
lower than the corresponding growth rates of real GNP, at 7.7% and 12.0%(8).
(7)
(8)
Year-on-year growth rate in real terms of:
1991
1992
(%)
(%)
*
Gross industrial output
12.9
21.7
of which
Energy
Electricity
9.3
10.9
Raw coal
0.9
3.1
Crude oil
1.1
1.6
Key raw materials
Pig iron
8.6
12.5
Steel
6.9
13.3
Cloth
-4.1
3.5
Excluding output from village-run enterprises.
1986
1987
1988
1989
1990
1991
1992 (estimate)
Increase in real wage rate
(%)
8.2
0.9
-0.8
-4.8
9.2
4.0
8.0
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