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China's electronic information manufacturing reports higher revenue, profits

Updated: Jul 05,2020 09:00 PM    Xinhua

BEIJING — China's electronic information manufacturing sector saw revenue and profit expansion in the first five months of the year as work and production resumption presses ahead, data from the Ministry of Industry and Information Technology (MIIT) showed.

Total profits of firms with annual revenue of more than 20 million yuan (about $2.83 million) surged 34.7 percent year-on-year, while the operating revenue of the firms rose 1.3 percent, rebounding from the 1.6-percent decline in the first four months, the MIIT said.

Value-added output of major electronic information manufacturers registered 3.7-percent yearly growth in the January-May period, while fixed-asset investment in the industry grew 6.9 percent year-on-year, 0.7 percentage points higher than the same period of last year.

In breakdown, profits of the communications equipment manufacturing sub-sector soared 70.3 percent from a year earlier, while that of the computer manufacturing sub-sector jumped 41.6 percent, said the MIIT.

In May alone, the output of laptops and tablets hiked 28.6 percent and 25.4 percent year-on-year, respectively, and that of smartphones and integrated circuits rose 8.4 percent and 3.4 percent, respectively.

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