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Chinese furniture makers see rising profits in January-October

[Dec 5, 2022]

China’s major furniture manufacturers reported rising profits in the first 10 months of 2022, despite disruptions caused by the COVID-19 epidemic, official data showed.

During the January-October period, total profits of major Chinese furniture-making enterprises stood at CNY34.42 billion (USD4.88 billion), up 3.8 per cent year on year, according to the National Bureau of Statistics.

The combined operating revenue of these firms was down 6.2 per cent from a year ago to CNY610.75 billion, the data showed.

China is the world’s largest furniture manufacturer and exporter, with its total export value of furniture hitting USD75.14 billion last year, according to the China National Furniture Association.