Despite lockdowns, Chinese furniture manufacturing logs rising profits

BEIJING — China’s major furniture manufacturers reported rising profits in the first 10 months of 2022 (January to October), in spite of COVID disruptions and lockdowns, official data showed, according to Xinhua news agency.

Total profits of major Chinese furniture makers was 34.42 billion yuan ($4.88 billion), up 3.8% over 2021, according to the Chinese National Bureau of Statistics.

Combined operating revenue for the manufacturers included in the survey was down 6.2% from the prior year figures at 610.75 billion yuan.

Total export value of furniture was $75.14 billion last year according to the China National Furniture Assn.

Related stories:

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *