China's home appliance industry reports steady profit growth

BEIJING - China's home appliance industry reported steady profit growth in the first 10 months of the year, according to the latest data from the Ministry of Industry and Information Technology.

Profits totaled 93.62 billion yuan ($14.69 billion), up 1.8 percent year-on-year, the ministry said.

Revenues hit 1.39 trillion yuan, jumping 18.9 percent year-on-year during the period.

China's output of refrigerators rose 0.3 percent year-on-year to 74.12 million units during the 10-month period, while production of washing machines reached 69.69 million units, up 12.4 percent from a year earlier.