BUSINESS China's machinery sector reports stable growth in Jan-April


China's machinery sector reports stable growth in Jan-April


15:13, June 13, 2021

China's machinery industry registered a steady expansion in revenues and profits in the first four months of the year, according to the Ministry of Industry and Information Technology (MIIT).

A technician works on the production line of a Volkswagen plant in Shanghai. (Photo: Xinhua)

The operating revenue of firms in the sector totaled 7.93 trillion yuan (about US$1.24 trillion) during the period, up 43.5% year on year, representing an average annual growth of 7.53%in the past two years, MIIT data showed.

Total profits of companies in the industry jumped 95.7% from a year ago to 470 billion yuan in the January-April period, registering an average annual increase of 13.47% over the past two years.

MIIT data also indicated that the added value of the sector in the period reported an average annual growth of 9.5% in the past two years.

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