China’s machinery sector reports stable growth in Jan.-April
BEIJING, June 13 (Xinhua) -- 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).
The operating revenue of firms in the sector totaled 7.93 trillion yuan (about 1.24 trillion U.S. dollars) during the period, up 43.5 percent year on year, representing an average annual growth of 7.53 percent in the past two years, MIIT data showed.
Total profits of companies in the industry jumped 95.7 percent from a year ago to 470 billion yuan in the January-April period, registering an average annual increase of 13.47 percent 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 percent in the past two years.