FLASH: Chinese machinery makers' profits up 12% YoY in Jan-Apr

Over January-April, China's machinery sector recorded a 12% on-year growth in gross profits to reach Yuan 439.7 billion ($61.9 billion), contributing to 21.6% of total profits earned by the country's sizable industrial firms, according to the new data released by China Machinery Industry Federation (CMIF) via its official website on late June 1.

In tandem, the operating revenue of China's machinery manufacturers increased 9.9% during the same period to Yuan 8.7 trillion, accounting for 21.1% of the country's sizable industrial enterprises' total revenue, the data showed. "Both the growth rates of (machinery makers') revenue and profits were higher than those of (other) industrial