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China's light industry staying strong amid downturn

Date: 2019-12-20
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China's light industry has demonstrated great resilience in the first 10 months of this year despite the overall downturn in the country's industrial sector, with revenues amounting to 16.1 trillion yuan (about $2.3 trillion), up 3.9 percent year on year.

'Profits in light industry have been rising, fully demonstrating its resilience and strength despite the overall downturn in the country's industry,' said Zhang Chonghe, head of the China National Light Industry Council at a press conference on Dec. 4.

He added that light industry accounted for 13.9 percent of the country's total industrial assets, 18.7 percent of the country's industrial revenue and 20.1 percent of its profit from January to October of this year.

Statistics also show that light industry's profits stood at 1 trillion yuan during the period, up 10 percent year on year.

The operation quality of light industry has been further improved, and the development mode has been transformed from scale expansion to quality and efficiency, according to the industry report for the first 10 months, showing that 'high quality' has become key in the development of light industry. 


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