The country had now built an independent, complete industrial system and a mature sci-tech system, successfully tested its first atomic bomb and H-bomb, and launched its first satellite. This progress brought China closer to industrialization, and laid foundation for economic development in the following decades. July Baosteel Group ranks the fourth among 13 world-class iron and steel producers.
During the decade of , China upheld the fiscal policy of not borrowing any money from other countries or its own people. It was not until December that it took out its first foreign loan.
For the s, the development of Chinese industry was entirely funded by domestic funds. Socialist construction is going from strength to strength. In , the U. President Nixon visited China. Over the following months, more than 40 countries established diplomatic ties with China. This marked the beginning of the second wave of technical imports by China after the Soviet aid in the s.
In the period , China increased its GDP by an average of 7. By , the size of its industrial sector had exceeded that of the U. Based on the industrialization progress before, China began to restructure the industrial sector.
To stimulate the development of light industry, China began to give preference in to the sector in supply of raw materials, fuel, and electricity, innovation and renovation measures, infrastructures construction, bank loan application, use of foreign exchange, importing of technologies, and transportation.
These measures led to structural changes in the Chinese industrial system. While light industry remained the focus, upgrading consumer spending, accelerating urbanization, and increasing investment in transportation and infrastructure boosted the development of heavy industry.
To break the bottleneck in the fields of energy, transport, and raw materials, the heavy chemical industry took off the ground in In , a fundamental shift occurred in Chinese economic development. Output growth slowed for general equipment 3. At the the same time, production dropped for textiles For the first nine months of the year, industrial production grew Industrial Production in China averaged This page provides - China Industrial Production - actual values, historical data, forecast, chart, statistics, economic calendar and news.
China Industrial Production - data, historical chart, forecasts and calendar of releases - was last updated on November of Industrial Production in China is expected to be 5. In the long-term, the China Industrial Production is projected to trend around 5. Trading Economics members can view, download and compare data from nearly countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices.
Features Questions? Contact us Already a Member? It allows API clients to download millions of rows of historical data, to query our real-time economic calendar, subscribe to updates and receive quotes for currencies, commodities, stocks and bonds. Click here to contact us. Please Paste this Code in your Website. News Stream. This was the weakest increase in industrial output since July , amid COVID curbs, persistent semiconductor shortages, and measures to control high pollution, with production slowing for both manufacturing and utilities.
Production fell for textiles By products, falls were seen in production of cement They cooperated and competed with foreign scientists and technicians to extract coal to fuel industrial ventures, as new research by Shellen Wu has demonstrated. Some of these industrial ventures were difficult to sustain. Money, coal, and other material inputs were sometimes in short supply. Officials were not always prepared to fully embrace new technology.
They expressed apprehension that machines would quickly exhaust national supplies of minerals. Others worried that machines would put people out of work.
But for environmental historians, the most important questions may lie elsewhere. By shifting attention to the relationship between machines, energy, natural resources, and the environment in the late nineteenth and early twentieth centuries we can resolve unanswered questions about Chinese environmental history. For example, we know little about the environmental toll of machines and coal in this era.
Did urban elites and commoners embrace the environmental changes wrought by early industrialisation as signs of progress? Or did they recoil at polluted air, water, and soil? Of course, China did not achieve widespread industrialisation and did not become heavily reliant upon fossil fuels until later in the twentieth century. But coal-fired machines and visions of industrialised landscapes in the late nineteenth century were harbingers of things to come.
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