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first half of 1988, the outputs of energy and of certain key raw materials recorded fairly rapid growth, but their growth rates continued to lag behind that of the
industrial sector
(4)
•
The transportation sector also
could not cope with such rapid growth. The volume of railway freight transportation increased by only 5.2% in
the first half of 1988.
5.
Reflecting strong consumer demand and the
limited availability of imports, the output of consumer items like refrigerators, colour television sets and cameras increased rapidly
This should help to
absorb some of the excess spending power of the consumers.
(5)
6.
Despite drought or flood in some grain producing areas, the output of summer grain crops this year was 93.2
million tons, about the same last year. For the year as а whole, it is expected that there would be a slight increase over last year's grain output but it is likely
that it will still fail to meet China's annual production
(4)
Year-on-year growth rate (%) in output in the first
half of 1988 :
Key raw materials
Pig iron
(5)
Steel
Rolled steel
Coal
Energy
Crude oil
7.2
10
9.1
3.5
2.9
2.5
10.9
Natural gas
Electricity
In the first half of 1988, the output of refrigerators, colour television sets and cameras increased by 86%, 41% and 28% respectively.
G.F. 326
CONFIDENTIAL #
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