China's electronic information manufacturing industry reports January-May expansion

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

The data shows that the value-added industrial output of major companies in the sector rose 13.8 percent year-on-year during the period.

The combined operating revenues of the sector's major firms rose 8.5 percent year-on-year to 5.95 trillion yuan ($834.88 billion), and the combined profits of these companies increased 56.8 percent to 194.6 billion yuan.

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

Major companies in the sector are those with a main annual business revenue of at least 20 million yuan.