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China May industrial production rises 6.8% YOY; fixed asset investment climbs

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China May industrial production rises 6.8% YOY; fixed asset investment climbs

China's industrial production rose 6.8% year over year in May, up 0.3 percentage point from the prior-year period and down 0.2 percentage point from April, National Bureau of Statistics data showed.

Mining industry production increased an annual 3.0% in May, after an annual 0.2% dip in April while manufacturing increased an annual 6.6%, 0.8 percentage point lower than April. Electricity, heat, gas and water production and supply industry jumped an annual 12.2%, 3.4 percentage points higher than April.

On a month-over-month basis, the country's industrial production in May rose 0.58% from the previous month.

In the first five months of 2018, industrial production climbed 6.9% year over year, unchanged from January to April.

In a separate release, NBS said fixed-asset investment in the first five months of 2018 rose to 21.6 trillion yuan, up 6.1% year over year, and 0.9 percentage point lower than in the January-to-April period. Of the total, fixed-asset investment from the private sector rose an annual 8.1% to 13.44 trillion yuan.

From January to May, investment in the primary industry rose to 684.4 billion yuan, up 15.2% year over year, or 1.6 percentage points lower than in the first four months. Investment in the secondary industry reached 7.95 trillion yuan, up 2.5% year over year, unchanged from January to April. Investment in the tertiary industry grew to 12.96 trillion yuan, up 7.7% year over year, 1.6 percentage points lower than in the first four months.

As of June 13, US$1 was equivalent to 6.40 Chinese yuan.