CHINA’S value-added industrial output, an important economic indicator, expanded 6.8 percent year on year in the first quarter, compared with the 6.3 percent increase for January to February, official data showed yesterday.

    The 6.8 percent growth was up from the 5.8 percent increase in the same period of 2016. It was also higher than the 6 percent annual gain seen in 2016, according to the National Bureau of Statistics (NBS).

    Industrial output, officially called industrial value added, is issued to measure the activity of designated large enterprises with annual turnover of at least 20 million yuan (US$2.9 million).

    In March, industrial production expanded 7.6 percent year on year, NBS data showed.

    Ownership analysis showed that industrial output of State-holding enterprises was up 6.2 percent in the first quarter, while output of joint-stock enterprises grew 6.9 percent. Meanwhile, industrial output of enterprises funded by overseas investors increased 6.9 percent.

    “The structure of China’s industrial output continues to improve,” said NBS spokesperson Mao Shengyong at a press conference, citing Q1 industrial output growth of the high-tech manufacturing sector reaching 13.4 percent and robust profit gains of large firms.(Xinhua)