BUSINESS China's electronics information manufacturing reports higher revenue, shrinking profit in Jan-May

BUSINESS

China's electronics information manufacturing reports higher revenue, shrinking profit in Jan-May

Xinhua

08:40, July 07, 2019

BEIJING - Revenue of China's electronics information manufacturing industry rose 6.4 percent year-on-year in the first five months of 2019, official data showed.

Workers process products in a factory manufacturing tablets in Sichuan province on Aug 7, 2018. (Photo: VCG)

Combined profits of the sector registered a 13-percent slump as the operating costs increased 6.5 percent from the same period last year.

In January-May, the sector's total output rose 9.4 percent year-on-year, with the pace of growth down 3.4 percentage points from that registered in the same period of last year.

Fixed asset investment of the industry grew 6.2 percent year-on-year, 8.4 percentage points slower from a year earlier, according to the Ministry of Industry and Information Technology (MIIT).

In breakdown, profits of communications equipment manufacturers and computer manufacturers decreased by 11.4 percent and 8.4 percent, respectively.

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