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M. Continuo

Slower factory output growth lets China restructure


    BEIJING (Reuters) - Slower industrial output growth in China is appropriate and will help the country to upgrade the structure of its economy, an official said on Tuesday.

    While the general trend of economic development is favorable, China still faces a lot of difficulties, Zhu Hongren, a spokesman for the Ministry of Industry and Information Technology, told a news conference.

    External demand was recovering, but the global economy was running into headwinds, while a lot of export-orientated Chinese firms were experiencing financing strains, he said.

    (Reporting by Ben Blanchard; Editing by Alan Wheatley)