The total profits of small and medium-sized industrial enterprises above designated size registered in China rose 13.8 percent year on year in the first eight months of this year, the fastest growth rate for the same period since 2022, said a Chinese official on Tuesday. Wang Weiming, a chief engineer of the Ministry of Industry and Information Technology, released the data at a press conference in Beijing.
"Since the beginning of this year, SMEs have seen generally stable development and steady progress. The total profits of small and medium-sized industrial enterprises above designated size registered in China climbed 13.8 percent year on year in Jan-August period, the fastest growth rate for the same period since 2022," said Wang.
Industrial enterprises above designated size refer to industrial legal entities whose annual revenue from principal business exceeds 20 million yuan (about 3 million U.S. dollars).
China's major industrial SMEs post best profit growth in Jan-Aug since 2022
China's major industrial SMEs post best profit growth in Jan-Aug since 2022
China's major industrial SMEs post best profit growth in Jan-Aug since 2022
The value-added output of China's equipment industry grew 7.1 percent year on year in the first three quarters, maintaining a positive development trend, Wang Weiming, chief engineer of the Ministry of Industry and Information Technology (MIIT), said in Beijing on Tuesday.
Speaking at a press conference, Wang said the equipment industry's role as a cornerstone of the economy was further consolidated during the period.
"In the first three quarters, the value-added output of the equipment industry grew 7.1 percent year on year, contributing 26.6 percent to overall industrial growth. The high-end equipment supply capacity has been enhanced. The output of industrial robots, numerical control machine tools, and new energy vehicles increased 29.1 percent, 13.5 percent, and 11 percent year on year, respectively. Meanwhile, the country's shipbuilding completion volume rose 50.7 percent year on year," Wang said.
"Next, we will continue to coordinate efforts to expand demand, optimize supply, and strengthen the industrial ecosystem to further consolidate and enhance the competitive advantages of the equipment industry," he added.
China's equipment industry maintains positive development in first three quarters: official
China's equipment industry maintains positive development in first three quarters: official
