China's machinery industry reports revenue, profit growth in Jan.-Feb.

China's machinery industry registered steady expansion in revenues and profits in the first two months of the year, according to the Ministry of Industry and Information Technology (MIIT).

The operating revenue of firms in the sector totaled 3.4 trillion yuan (about 519.8 billion U.S. dollars) during the period, up 69.3 percent from the low base in the same period of last year, representing an annual average growth of 7.4 percent in the past two years, MIIT data showed.

Total profits of companies in the industry reached 190 billion yuan in the January-February period, surging by 23.5 percent annually on average in the past two years.

MIIT data also indicated that the added value of the sector in the period reported annual average growth of 8.3 percent in the past two years.