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October 29, 2018

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Manufacturing Jan-Sept profits, growth sound

China’s manufacturing sector registered sound growth in the first nine months of this year, with higher profits for enterprises.

The value-added output of the sector expanded 6.7 percent year on year in the first three quarters, Xin Guobin, vice minister of the Ministry of Industry and Information Technology told a recent press conference.

Profits climbed 13.5 percent year on year in the first eight months, Xin said, adding that the sector has found a bright spot in investment growth.

Xin said the faster growth of private investment in the manufacturing sector reflects mounting confidence in the market amid a slew of favorable policies designed to beef up private investment.

Value-added output from the high-tech and equipment manufacturing sectors jumped 11.8 percent and 8.6 percent, respectively, in the first nine months, overshooting the 6.4-percent growth rate of the industrial average.

The software industry registered rapid revenue growth in the first three quarters of this year, MIIT data shows. Business revenue increased 15 percent year on year to reach 4.5 trillion yuan (US$647.4 billion), faster than the growth during the same period last year.

Profits of the industry climbed by 14.4 percent to 568.9 billion yuan during the January-September period. In the third quarter, the software industry’s profit jumped 21.8 percent, compared with 10.8 percent and 10.2 percent in Q1 and Q2.

Sales of software products reached 1.33 trillion yuan in the first three quarters while revenue of information technology services surged 18.5 percent to 2.5 trillion yuan.

MIIT data also revealed that China’s information consumption grew rapidly in the first three quarters, with the business volume of China’s telecommunications services increasing 139.8 percent year on year.

Wen Ku, director of the telecoms department at the ministry, said the total revenue of Internet service and related sectors grew 20.2 percent year on year in the January-September period.

China’s mobile data traffic consumption in September was more than twice the amount in the same period last year, Wen said.

Data from the ministry shows that 4G services have become more popular in China.

It shows 4G users accounting for 74.3 percent of China’s cellphone users by the end of September.

Information boom

In addition, China had developed 590 million terminals for the Internet of Things by the end of September, up 163.4 percent year on year.

The expansion of information consumption came after three major Chinese telecommunications operators rolled out new packages allowing customers to access the Internet at much lower costs.

Meanwhile, China’s industrial robot output increased 9.3 percent year on year in the first nine months of this year.

This is a slower growth rate than that of the January-August period.

A total of 108,271 units of industrial robots were produced in the January-September period, according to MIIT.

In the first eight months, output jumped 19.4 percent year on year, the MIIT data shows.

China’s robotics industry has maintained an average annual output growth rate of nearly 30 percent over the past five years.


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