BEIJING — China's electronic information manufacturing sector logged growth in revenues and profits in the first eight months despite the impact of the COVID-19 epidemic, official data showed.
Total profits of firms with annual revenues of more than 20 million yuan (about $2.94 million) surged 26.1 percent year-on-year, while the operating revenues of these firms rose 7.3 percent, according to the Ministry of Industry and Information Technology.
The value-added output of major electronic information manufacturers rose 7 percent year-on-year in the January-August period, and fixed-asset investment in the industry registered an 11.7-percent yearly growth, 0.6 percentage points higher than the same period last year.
The communications equipment manufacturing sub-sector saw profits soar 38.1 percent year-on-year in the first eight months, leading major sub-sectors in the industry, data showed.
In August alone, the output of smartphones jumped 12.1 percent year-on-year, while the outputs of laptops and tablets rose 27.1 percent and 4.1 percent, respectively.