China's machinery industry posts steady growth in first 10 months

BEIJING - China's machinery industry saw strong expansion in the first 10 months of this year, reporting year-on-year growth in revenue, profit and added value, official data showed.

The combined operating revenue of firms in the sector rose 2.7 percent year-on-year to 17.81 trillion yuan ($2.72 trillion), according to the Ministry of Industry and Information Technology.

During the period, companies in the industry raked in 1.12 trillion yuan in total profits, up 8.8 percent year-on-year. The added value of the industry grew 4.8 percent year-on-year.