China's electronic information manufacturing registers revenue, profit growth

BEIJING -- China's electronic information manufacturing sector logged steady expansion in revenues and profits in the first two months of the year, official data showed.

Combined operating revenues of firms with annual operating revenue of at least 20 million yuan ($3.06 million) rose 55.8 percent year-on-year, according to the Ministry of Industry and Information Technology.

Total profits of these firms amounted to 77.9 billion yuan, 60 times as much as the reading of the same period last year, MIIT data showed.

The added value of major electronic information manufacturers soared 48.5 percent year-on-year in the January-February period, and fixed-asset investment in the industry registered a 41.6-percent yearly growth.

During the period, the output of smartphones rose 48.8 percent year on year, while that of integrated circuits jumped 79.8 percent from a year earlier, MIIT data showed.