China's electronic information manufacturing sector expands in Q1

BEIJING -- China's electronic information manufacturing sector maintained stable growth in the first quarter (Q1) of 2022, data from the Ministry of Industry and Information Technology (MIIT) showed.

The added value of electronic information manufacturers with annual operating revenues of at least 20 million yuan (about $3 million) expanded 12.7 percent year-on-year during the period.

The growth rate was 0.3 percentage points higher than the average growth rate for the same period in the past two years, the MIIT said.

The export delivery value of major enterprises in the sector increased 11.4 percent year-on-year in the first three months of this year while fixed-asset investment in the sector jumped 27.8 percent.

According to the MIIT data, the electronic information manufacturing sector raked in 143.3 billion yuan in total profits in the first three months, up 2.8 percent year-on-year. The operating revenue of the sector in the first quarter totaled 3.38 trillion yuan, up 9.5 percent year-on-year.