Shanghai reported a 0.7% decline in industrial output in November, National Bureau of Statistics figures show. “It was due largely to the energy conservation and carbon reduction targets set by central government,” East China Normal University professor Ning Yuemin argued. Shanghai’s neighboring Jiangsu and Zhejiang provinces posted 9.2% and 0.9% respective increases in industrial output. Northern China’s Shanxi province was ranked first in terms of industrial output fall with a 24.5% rate.
$1 = RMB6.8
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