BUSINESS China's electronic information manufacturing reports lower profits

BUSINESS

China's electronic information manufacturing reports lower profits

Xinhua

16:10, April 05, 2020

BEIJING, April 5 (Xinhua) -- Profits of China's electronic information manufacturing sector declined in the first two months of 2020 as the novel coronavirus outbreak hurt the industrial chain, official data showed.

342da5b5-12b7-4229-acfa-73687a8366ff.jpg

File photo: CGTN

Total profits slumped 87 percent year on year, while operating revenue dropped 14.7 percent from a year earlier, according to a statement by the Ministry of Industry and Information Technology (MIIT).

In breakdown, profits of the communications equipment manufacturing sub-sector dived 357.3 percent from a year earlier, while that of the computer manufacturing sub-sector went down 139.7 percent.

In the first two months, mobile phone output fell 33.8 percent year on year, with smartphone production down 32.5 percent.

The output of laptops and tablet computers dropped 31.1 percent and 24.5 percent, respectively.

By the end of March, China's manufacturing sector has steadily advanced production resumption, with 98.6 percent of major industrial firms nationwide having restarted work, according to the MIIT.

Around 89.9 percent of employees in industrial companies with annual revenue of more than 20 million yuan (about 2.84 million U.S. dollars) had returned to their posts, said Xin Guobin, vice minister of the MIIT.


Related Stories

Terms of Service & Privacy Policy

We have updated our privacy policy to comply with the latest laws and regulations. The updated policy explains the mechanism of how we collect and treat your personal data. You can learn more about the rights you have by reading our terms of service. Please read them carefully. By clicking AGREE, you indicate that you have read and agreed to our privacy policies

Agree and continue