Xinhua
29 Nov 2020, 17:51 GMT+10
BEIJING, Nov. 29 (Xinhua) -- China's food industry saw stable expansion in terms of production and sales in October, data from the Ministry of Industry and Information Technology (MIIT) showed.
The industrial added value of major food manufacturers rose 5.1 percent year on year last month, and that of agricultural byproduct processors went up 4.8 percent year on year, according to MIIT.
Retail sales in the industry registered a strong increase in October, with sales of grain, oil and food commodities climbing 8.8 percent year on year to 129.14 billion yuan (about 19.64 billion U.S. dollars).
Retail sales in the beverage sector surged 16.9 percent year on year to 20.18 billion yuan, while sales in the tobacco and alcohol sector registered a 15.1 percent yearly increase to 34.45 billion yuan, MIIT data showed.
In the first three quarters of the year, food enterprises with annual revenues of more than 20 million yuan raked in profits of 440.32 billion yuan, up 10.1 percent year on year.
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