MIIT: Q1 Equip. Mfg. Added Value +10.9% YoY

MIIT: The Added Value of the Equipment Manufacturing Industry Increased by 10.9% Year - on - Year in Q1, Driving up Overall Industrial Production by 3.5 Percentage Points

At a press conference held by the State Council Information Office on April 18th, Xie Shaofeng, the chief engineer of the Ministry of Industry and Information Technology (MIIT), stated that key industries showed stable improvement in the first quarter. The equipment manufacturing industry played an important supporting role, with its added value increasing by 10.9% year - on - year in the first quarter, driving up overall industrial production by 3.5 percentage points. Supported by policies such as those related to "two major aspects" and "two new areas", the added value of the electronics, automotive, and electrical machinery and equipment industries increased by over 10%. The profitability of the raw material manufacturing industry improved significantly, with profits in the first two months increasing by 15.3% year - on - year.