China’s value-added industrial output at large enterprises grew 5.4% year-on-year in the first half of the year, with output in the high-tech manufacturing sector rising 13.3%.
The industrial sector contributed more than 35% to the country’s economic growth during the period.
Total profits of large industrial enterprises jumped 18.8% year-on-year in the first five months of the year, indicating continuous improvement in corporate profitability.
NEWS SUMMARY
More than 30 listed companies on Monday announced plans to buy back shares or increase their holdings. The proposed moves involve a combined maximum amount of more than 10 billion yuan ($1.5 billion).
Shenzhen established a 10 billion yuan major industry fund targeting strategic emerging industries such as semiconductors and integrated circuits.
Contact editor Lin Jinbing (jinbinglin@caixin.com)
