China's industrial production grew more than economists estimated in November, exports fell the least in 13 months and imports surged, confirming the nation's role as leader of the world recovery. Factory output climbed 19.2 percent from a year earlier, the statistics bureau said in Beijing. That was more than the 18.2 percent median estimate in a Bloomberg News survey of 25 economists. Exports slid 1.2 percent. Imports rose 26.7 percent. New loans topped forecasts and money supply expanded by a record, extending a credit boom that may fuel asset bubbles and inflation and has prompted plans by lenders including Bank of China Ltd. to replenish capital.
The government is wrestling with overcapacity and excess production in some industries, such as steel, where an oversupply is depressing profits for mills including Baoshan Iron & Steel Co.
No comments:
Post a Comment