TNAG-1873-FCO40-2661-Relations-between-Hong-Kong-and-China-1989 — Page 123

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CONFIDENTIAL

2

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(1)

by almost any standards

•

The third quarter of 1988

was the eighth consecutive quarter in which the year-on-year growth rate of gross industrial output

exceeded 13% in real terms.

3.

In the first three quarters of 1988 the growth rate of industrial output produced by state enterprises (12.6%) was significantly slower than that of total

industrial output (17.5%). Thus their share of industrial

output in national total declined to 64.5%, from 67.3% in

the first three quarters of 1987.

4.

Reflecting the strong demand for consumer goods. and the limited availability of imports, the growth rate of light industries was faster than that of heavy

(1)

Gross industrial*

Year-on-year

output (Rmb bn)

growth rate

(응)

1986 Q1

1987 Q1

Q3

Q4

aaaaaaaa

198.7

4.4

Q2

229.7

5.3

Q3

223.6

8.8

Q4

244.6

15.9

226.7

14.1

Q2

266.0

15.8

259.2

15.9

277.4

13.4

1988

Q1

264.6

16.7

Q2

312.7

17.6

Q3

306.0

18.0

Q1

3

883.3

17.5

*

At constant (1980) prices, excluding output from village-run enterprises.

CONFIDENTIAL

機密