Nov. 16 – China’s industrial output is expected to grow by about 16 percent year-on-year in November and industrial output for the entire 2009 could reach around 10.5 percent, Minister of Industry and Information Technology Li Yizhong said on Saturday.

Speaking at a 3-day International CEO conference, Li said that industrial output growth would guarantee China’s manufacturing-based economy reaching its full-year growth target of 8 percent.

China set their growth target of 8 percent in March. Beijing believes that 8 percent is the minimum required growth to generate enough jobs in the country and avoid social upheaval.

In October, China’s industrial output rose 16.1 percent from a year earlier, the fastest pace since March 2008 state media reported.

Li said the industrial output in October had climbed to the level in June last year, which indicated a V-shaped curve of the recovery of the industrial production activities.

According to the minister, the industrial production accounted for 43 percent of China’s total GDP in 2008 and contributed 42.8 percent to the GDP growth last year.