China Production Growth Fastest in More Than 3 Yrs
Beijing, Dec. 10 (Bloomberg) -- China's industrial production grew at the fastest pace in more than three years last month, led by car manufacturers such as Volkswagen AG and General Motors Corp. as vehicle prices fell and incomes rose.
Factory production rose 14.5 percent in November from a year ago after a 14.2 percent gain in October, the National Bureau of Statistics said. Adjusting for Lunar New Year public holidays, which can fall in January or February, production was the fastest in more than three years, according to Bloomberg data.
China is now Volkswagen's second-largest market after Germany, and General Motors said its sales of Buick-branded sedans, compact cars and minivans made in Shanghai will rise 90 percent this year. China, which posted third-quarter economic growth of 8.1 percent, may surpass the U.S. as the world's largest recipient of foreign direct investment this year, according to a UN study.
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