Tech Sector Resilience Lifts Industrial Profits

Yu Weining, a statistician from the Industrial Department of the National Bureau of Statistics, interpreted the profit data of industrial enterprises, indicating that the high-tech manufacturing sector has demonstrated resilience.

From January to September, driven by rapid production growth, the profits of high-tech manufacturing industries increased by 6.3% year-on-year, which is 9.8 percentage points higher than the average level of industries above the designated size, contributing to a 1.1 percentage point increase in the profit growth of industries above the designated size, thus providing important support for their profits.

Among these, the profit of high-end equipment manufacturing industries such as spacecraft and carrier rocket manufacturing, and specialized equipment manufacturing for semiconductor devices, increased by 17.1% and 13.2% year-on-year, respectively. Profits in smart manufacturing sectors such as intelligent vehicle-mounted equipment manufacturing, wearable intelligent device manufacturing, and smart unmanned aerial vehicle manufacturing increased by 27.5%, 25.6%, and 10.2%, respectively. Green manufacturing industries, including lithium-ion battery manufacturing, saw a growth of 58.8%. In other emerging industries, the manufacturing of specialized instruments for navigation, mapping, meteorological and oceanic purposes, sensitive components and sensor manufacturing, and electronic circuit manufacturing increased by 53.3%, 35.0%, and 33.5%, respectively, all maintaining a rapid growth trend.