China 2022-11-15T05:00:40+02:00
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China's machinery industry continues double-digit growth in Jan-Sept

China's machinery industry continues double-digit growth in Jan-Sept

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Statistic, Machinery industry, Industrial sector
China's machinery industry. Photo by Xinhua.
China's machinery industry. Photo by Xinhua.

China's machinery industry continued double-digit growth in terms of revenue, profits and added value in the first nine months of the year, data from the Ministry of Industry and Information Technology (MIIT) showed, The Xinhua News Agency reported.

The combined operating revenue of companies in the sector came in at 18.75 trillion yuan (about $2.9 trillion) in the first three quarters, soaring 18.6% year on year, according to the MIIT.

During the period, the total profits of the companies rose 13.2% from a year earlier to 1.12 trillion yuan, the ministry said.

In the Jan.-Sept. period, the added value of China's machinery industry also climbed 14.1% year on year, 2.3 percentage points higher than the overall growth of China's industrial sector.

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