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5/16, 4:03 AM (Source: TeleTrader)
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China industrial production declines 2.9% in April

China's industrial production contracted in April, falling 2.9% year-over-year, according to a Monday report by the Chinese National Bureau of Statistics. Compared to the previous month, the added value of China's industrial enterprises fell by 7%.

Regarded by category, the added value of the mining industry in April increased 9.5% year-over-year, the manufacturing industry fell by 4.6%, while the electricity, heat, gas and water production climbed 1.5%.

In terms of economic types, the added value of state-controlled enterprises declined by 2.9% on a yearly basis in April, as the joint-stock companies inched up 0.5%. Furthermore, foreign-invested companies, along with Hong Kong, Macao and Taiwan-invested firms, dropped 16.1%, while private enterprises went down 1.1%.

Baha Breaking News (BBN) / SP