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China Daily / 2019-12 / 03 / Page016

Profit growth improves as upgrade measures bear fruit

By OUYANG SHIJIA | CHINA DAILY | Updated: 2019-12-03 00:00

Industrial development progressing steadily despite downside pressures

Profit recovery in the high-end sector and some key industries during the first 10 months of the year despite rising downside pressure is an indication that China's ongoing industrial transformation and upgrade efforts are gradually bearing fruit, experts said.

Profits of the high-tech manufacturing sector rose 7.5 percent year-on-year from January to October, 1.2 percentage points higher than in the first nine months, according to the National Bureau of Statistics.

Strategic emerging industries and the equipment manufacturing sector saw profits jump 5.3 percent and 2 percent, respectively, in the first 10 months, 0.7 percentage point and 1.1 percentage points higher than that in the first nine months, NBS data showed.

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