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China's food industry's gross output surges 26.1% in Q1

May. 18, 2012 (China Knowledge) - Food enterprises each with annual core business revenue of at least RMB 200 billion in China saw their gross output jump 26.1% year on year to RMB 2.02 trillion in the first quarter of this year, sources reported.

These food enterprises earned a total profit of RMB 145.56 billion in the period, reflecting a growth of 24.9% YoY, said Xiong Bilin, deputy head of the China National Food Industry Association, at an industry conference.

Xiong expected that the industry's gross output would top RMB 9 trillion this year if the growth momentum maintains.

Data from the National Bureau of Statistics showed that the sector's gross output surged 31.6% YoY to RMB 7.81 trillion in 2011, accounting for 9.1% of the country's total industrial output. The growth rate was 3.7 percentage points higher than the national average industrial output growth.

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