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

BUSINESS

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

Xinhua

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.

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