China's electronic information manufacturing sector posts fast growth in 2024

BEIJING - China's electronic information manufacturing sector registered robust growth in 2024, with the added value of major enterprises in the sector increasing 11.8 percent from the previous year, official data showed on Thursday.

The combined operating revenues of the sector's major firms rose 7.3 percent year-on-year to 16.19 trillion yuan ($2.26 trillion) in 2024, according to data from the Ministry of Industry and Information Technology.

During the period, the combined profits of these companies increased 3.4 percent year-on-year to 640.8 billion yuan, the data showed.

Among major products, a total of 1.67 billion mobile phones were produced in 2024, a year-on-year increase of 7.8 percent. About 1.25 billion smartphones were manufactured, growing 8.2 percent from the previous year.

Major companies in the sector are those with a main annual business revenue of at least 20 million yuan.