BUSINESS China's electronic information manufacturing sees revenue growth in Jan.-July

BUSINESS

China's electronic information manufacturing sees revenue growth in Jan.-July

Xinhua

14:19, September 13, 2019

BEIJING, Sept. 13 (Xinhua) -- Revenue of China's electronic information manufacturing industry continues to grow despite a slower pace, according to the Ministry of Industry and Information Technology (MIIT).

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File photo: CGTN

In the first seven months, revenue of the sector expanded 5.7 percent year on year, 2.9 percentage points slower compared with a year ago, MIIT data showed.

Profits in the sector sank 6.3 percent as the operating costs rose 5.7 percent year on year during the period, according to the MIIT.

Fixed asset investment of the industry grew 10.5 percent year on year, 6.5 percentage points slower from a year earlier, MIIT data showed.

In breakdown, profits of communications equipment manufacturers climbed 4.8 percent and that of computer manufacturers dropped 4.2 percent year on year in the first seven months this year, the ministry said.

MIIT data also showed China's mobile phone output shrank by 4.5 percent year on year in July.

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