China's light industry output surges in 2012

China's light industry saw double-digit growth in total output, export and profits in 2012, the country's top economic planner said on Sunday. The National Development and Reform Commission (NDRC) said in a statement that the total output of major companies in the light industry sector expanded 18.2 percent year on year in 2012 to 18.05 trillion yuan (2.87 trillion U.S. dollars). The total export volume of major products surged 13.72 percent from the previous year to 507.51 billion U.S. dollars, according to the statement. It said that major companies in the industry made total profits of 1.1 trillion yuan, climbing 19.6 percent from a year earlier. The NDRC attributed the rapid growth partly to strong demand from the country's consumer goods sectors, especially agricultural product processing, food manufacturing and the beverage sectors. China's economy grew by 7.8 percent year on year in 2012, the slowest growth rate since 1999, according to the National Bureau of Statistics.