China’s electronic information manufacturing industry sees rapid profit growth

China’s electronic information manufacturing industry registered strong growth in revenue and profit in the first 10 months of the year, data from the Ministry of Industry and Information Technology (MIIT) showed.

Major enterprises in the sector raked in total profits of 604.9 billion yuan (about 94.9 billion U.S. dollars), surging 34.3 percent year on year, 21.7 percentage points faster than the same period last year, according to the MIIT.

The combined operating revenue of these companies rose 15.1 percent year on year to over 11.07 trillion yuan in the first 10 months, while their added-value climbed 16.5 percent over one year earlier.

In October, the output of smartphones rose 7.4 percent year on year to 110 million units, while that of microcomputers edged up 1.5 percent to top 41.42 million units.