China's light industry posted steady performance in the first seven months of this year, with production, revenues, and market scale maintaining robust momentum, thanks to supportive policies to stimulate domestic demand and boost consumption, according to the data from the China National Light Industry Council.
The added value of light industry enterprises above the designated with an annual business revenue of 20 million yuan (around 2.80 million U.S. dollars) grew by 6.7 percent year on year, with their revenues and profits reaching 13.2 trillion yuan and 760.11 billion yuan, respectively.
From January toJuly, retail sales of light industry products across 11 major categories reached 4.9 trillion yuan, up 11.4 percent year on year and accounting for 17.4 percent of total retail sales of consumer goods.
Specifically, sales of electric bicycles, washing machines, and air conditioners increased by 33.2 percent, 9.4 percent, and 5.1 percent, respectively, driven by China's consumer goods trade-in programs.
Investment in the light industry's main sectors grew at a double-digit rate, outpacing growth in fixed assets and the manufacturing sector.
The light industry maintained resilient export growth in the first seven months, with the export value reaching 535.75 billion U.S. dollars, up 1.1 percent year-on-year and accounting for 25.1 percent of the national total. Additionally, 11 of the industry's 21 sectors recorded continued expansion.
China's light industry posts steady performance from Jan to July
