Electronic Profit

China’s electronic information manufacturing sector saw revenue and profit expansion in the first five

fertilizer, wood and large-scale construction machinery.

A total of 1,505 China-europe freight trains passed through the port in the first half, an increase of 19 percent compared with the same period last year, carrying 134,700 TEUS of goods in total.

The China-europe rail routes have become an important transport channel for stabilizing global trade and recovering production amid the novel coronavirus pandemic. Authorities in the Manzhouli Port have speeded up customs clearance to increase efficiency and help enterprises reduce logistics and transportation costs.

Ministry of Industry and Information Technology (MIIT) showed.

According to the MIIT, major Internet companies raked in 471.9 billion yuan ($66.8 billion) in the January-may period, up 14.9 percent year on year, 10 percentage points higher than the growth rate registered in the January-april period.

During the first five months of the year, the operating profit of the industry rose 3.1 percent year on year to 53.3 billion yuan ($7.5 billion).

Meanwhile, the sector’s spending on research and development neared 23.7 billion yuan ($3.3 billion), increasing by 10 percent over the same period last year.

The Internet sector has become a key component of China’s new economy as the country shifts to growth driven more by technology and consumption.

The MIIT statistics cover enterprises with annual revenue from Internet services of above 5 million yuan ($712,000) in the previous year.