Bloomberg News

Driving Forces of China Industry Growth Are Weakening, MIIT Says

October 25, 2011

Oct. 26 (Bloomberg) -- The driving forces of China’s industrial growth are weakening both at home and abroad, the Ministry of Industry and Information Technology said.

The international situation remains “complicated” and the domestic economy is facing “new changes,” it said in a statement before a news briefing in Beijing.

Companies are facing problems including a tighter financing environment, rising labor costs, changing interest rates and exchange rates, volatile energy and resources prices, the ministry said.

The ministry will continue to make efforts to ease the difficulties facing small and medium-sized companies and is studying “stimulative policies” with other departments, according to the statement.

To contact the editor responsible for this story: Nerys Avery at navery2@bloomberg.net


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