BEIJING — China's light industry registered a recovery in the first half of the year (H1), with a decline in operating income and revenue narrowing from that in the first five months, official data showed.
The operating income of firms with annual revenue of over 20 million yuan (about $2.9 million) in the sector dropped 7 percent year-on-year to 8.54 trillion yuan, narrowing 1.4 percentage points from that in the first five months, according to the Ministry of Industry and Information Technology (MIIT).
These companies raked in 531.49 billion yuan in profits in H1, down 4.2 percent from the same period of last year. The profit drop narrowed 2.5 percentage points from that in the January-May period.
Exports of eight key products fell 10.2 percent year-on-year in H1, narrowing 3.7 percentage points from that in the first five months, according to the General Administration of Customs.
MIIT data also showed that light industry production continued to pick up steam in June, with added value rising in sectors including bicycles, batteries, home appliances, plastic products and paper-making.