MII Official: No Occurrence of Loss-making in Color TV Industry

The Ministry of Information Industry (MII) announced Thursday, January 11, that the overall losses in color TV sector reported by some media are groundless. It is true that China reported a minus growth in color TV production and sales in 2000, but declines in production, sales and profits do not necessarily mean losses, stated Qu Weizhi, MII vice minister.

According to report, from January to October last year, China had manufactured 27.71 million sets of color TV and sold 29.02 million, a respective 10.6 and 5.0 percent lower than the previous year.

Fast expansion in production and oversupply contributed to the decline in profits for domestic TV makers and the whole industry.

However, many TV makers attached great importance to production and marketing and tried to reduce stocks by making new products and increasing exports, exploring rural market and adjusting product structure. Therefore, China's color TV industry hasn't lost any money so far as the whole industry is concerned, said Qu.

By PD Online staff member Li Yan

People's Daily Online --- http://english.peopledaily.com.cn/