China's chemical fiber industry posts growth in revenue

BEIJING, July 2 (Xinhua) -- China's chemical fiber industry recorded an expansion in operating revenue during the first five months of the year, data from the Ministry of Industry and Information Technology showed.

The combined operating revenue of major firms in the sector, each with annual operating revenue of at least 20 million yuan (about 2.99 million U.S. dollars), hit 437.7 billion yuan, up 11.7 percent year on year.

These companies raked in 12.9 billion yuan in total profits, down 54.2 percent from a year earlier, according to the ministry.

During the January-May period, the total output of the industry stood at 27.64 million tonnes, staying flat from the same period in 2021, the ministry data showed.