China's electronic information manufacturing industry expands in first 2 months

BEIJING - China's electronic information manufacturing sector recorded solid growth in output, combined revenue and profits in the first two months of 2024, data from the Ministry of Industry and Information Technology showed.

According to the ministry, the value-added industrial output of major companies in the sector rose by 14.6 percent year-on-year in this period.

During the same period, the combined operating revenue of the sector's major firms rose 8.2 percent year-on-year to 2.14 trillion yuan ($302 billion), while the combined profits of these companies increased by 2.1 times to 41.81 billion yuan.

Fixed-asset investment in this sector increased by 14.8 percent year-on-year in the same period, according to the data.

Major companies in the sector refer to those with an annual main business revenue of at least 20 million yuan.