China's food industry records steady profit growth
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E-mail Xinhua, December 27, 2020
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China's major food processing companies recorded steady profit growth in the first 10 months of the year, data by the Ministry of Industry and Information Technology showed.
Enterprises with annual revenues of more than 20 million yuan (3.06 million U.S. dollars) from their main operations saw combined profits reach 485.26 billion yuan, up 9.4 percent year on year, the data showed.
Agricultural and sideline products processing companies reported 150.5 billion yuan in combined profits in the January-October period, surging 14.6 percent from a year earlier, according to the data.
The combined profits of liquor, beverage and tea manufacturers rose 5.4 percent year on year to reach 190.64 billion yuan in the same period, the data showed.
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