China's industrial output increased 16.6% in May

China's industrial output increased 16.6% in May

China's National Bureau of Statistics reported that the industrial output of the country rose 16.3% year on year to RMB 2.59 trillion (around $312.9 billion) in the first five months of 2005. The increase was 18.1% in the same period of 2004. The industrial output increased 16.6% year on year in May and reached RMB 570.2 billion (around $68.8 billion). The increase was 17.5% in 2004. In May, the country's crude steel output increased 37.5% and the finished steel output increased 35.5%. Pig iron production rose 40.9%, while crude coal production climbed up 11.6%. The overall heavy industry output of China increased 17.4% year on year and reached RMB 397.1 billion (around $48 billion). The exports of industrial enterprises rose 30.2% to RMB 380.5 billion (around $46 billion).