China's machinery industry continued double-digit growth in terms of revenue, profits, and added value in the first ten months of the year, statistics from the Ministry of Industry and Information Technology showed.
From January to October, the added value of China's machinery industry increased by 12.3% year-on-year, which became a strong propeller to the steady growth of the country’s industrial added value.
Business revenue and profits in the machinery industry maintained a momentum of growth. The combined operating revenue of enterprises above designated size came at 20.91 trillion yuan, a year-on-year increase of 16.5%.
In the first ten months, 97 products out of 121 representative products reported year-on-year increase, with a growth rate of 80.2%.
The growth rate of foreign trade in the machinery industry hit a record high. From January to October, imports and exports of the machinery industry totaled US$843.86 billion, a year-on-year increase of 28.3%.
