China’s equipment manufacturing output surges 40% in Q1

Product Description:

China’s equipment manufacturing sector saw rapid expansion in the first quarter of this year amid broader economic recovery, official data showed.

A key barometer of the country’s manufacturing strength and overall economic operation, the equipment manufacturing sector saw its added value increase 39.9 percent year-on-year in the first three months, data from the Ministry of Industry and Information Technology showed.

Combined profits of the sector jumped 710 percent year-on-year in the first two months.

Data from the ministry also showed that the output of engineering machinery and trucks surged more than 70 percent from a year ago in the first quarter, reflecting sound momentum in production and construction.