China's plastics sector reports higher revenue, profits

BEIJING - China's plastics manufacturing firms saw higher revenue and profits in the first 10 months of the year, official data shows.

The combined operating revenue of the country's plastics sector totaled 1.77 trillion yuan ($278 billion), jumping 14.6 percent year-on-year, according to the Ministry of Industry and Information Technology.

Manufacturers of plastic products raked in 98.39 billion yuan in profits in the first 10 months, up 0.2 percent year-on-year.

Their output rose 8.9 percent from a year ago to 65.22 million tons in the January-October period, the ministry said.

In October alone, the sector's output stood at 6.84 million tons, down 1.1 percent, the data shows.