China's furniture sector profits grew 17%
According to the latest data released by the Ministry of Industry and Information Technology, in the first half of 2014 the revenue generated by China's furniture manufacturing sector rose 13% to RMB328.21 billion and profits grew 17%.
According to the latest data released by the Ministry of Industry and Information Technology, in the first half of 2014 the revenue generated by China's furniture manufacturing sector rose 13% to RMB328.21 billion and profits grew 17%.
The number of large scale furniture manufacturing enterprises is expanding and the number of furniture enterprises with a total output value of more than RMB5 million ha s been increasing. As of May this year a recent survey showed there were over 4840 furniture enterprises with total output value of more than 5 million yuan in China, a 6% increase in number 2013.
While the large enterprises are modern plants with the latest technology most of the small and micro scale enterprises lack basic technology and have failed to achieve brand status and as such profit margins are small.
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