Industrial output, the benchmark production indicator, is slowing, however, compared to a year ago. That's down from 12.9 percent growth recorded for the January-September period in 1996. Analysts have blamed the slow down on companies efforts to slow the growth of inventories. The industrial output growth picked up in September, with production totaling 170.5 billion yuan, up 11.1 percent on the same month a year ago. Industrial output in August was up 10.9 percent on the same month a year ago.
Stockpiles keep growing, however.
Any figure less than 100 percent means companies are making more than they sell. China's consumer price inflation rate, which adds in rent, utilities and other services to the retail figure, was 1.8 percent in September. In August, the consumer prices were 1.9 percent up on the same month in 1996. Retail prices in Shanghai fell 1.2 percent on September 1996, while those in Guangxi and Hainan dropped 2.7 percent and 2.1 percent respectively, reported the state statistics bureau. China on Friday revealed details of new rules that will allow large trading firms to retain part of their foreign exchange earnings.