China: investment in electronic information industry rises 9.4 %

Official statistics in China revealed the registration of investment in fixed assets in the electronic information manufacturing sector grew by 9.4 percent year-on-year.

Official data released by the Ministry of industry and Information Technology showed that the growth rate was 0.5 percentage points higher than the average rate recorded in all industries.

The main companies in the sector saw a decline in revenues by 4.2 percent year-on-year, while profits fell by 25.2 percent from the previous year to reach 241.8 billion yuan (about 33.91 billion dollars), compared to a 49.2 percent decline recorded during the period between January and May last.

The main manufacturers of electronic information in China are companies whose main annual business revenues each amount to at least 20 million yuan, according to the Chinese news agency “Xinhua”.

The National Development and Reform Commission (NDRC), China’s top economic planning body, unveiled a series of detailed measures, including tax cuts and red tape, aimed at boosting the performance of the private economy, after issuing a general guideline last month.

The measures, ranging from fair market access to stronger financial support and better government services, aim to address the high-profile problems facing private companies and boost their confidence, according to a notice issued by the National Development and Reform Commission and several other government bodies.