Business Brief (July 21): Shenzhen Launches 10 Billion Yuan Fund Targeting Chips, Emerging Industries

China’s value-added industrial output at large enterprises grew 5.4% year-on-year in the first half of the year, with output in the high-tech manufacturing sector rising 13.3%. 

The industrial sector contributed more than 35% to the country’s economic growth during the period. 

Total profits of large industrial enterprises jumped 18.8% year-on-year in the first five months of the year, indicating continuous improvement in corporate profitability.