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China's CETC posts strong 2014 growth

03 February 2015

The China Electronics Technology Group Corporation (CETC) - one of China's largest state-run defence manufacturers - achieved double-digit financial growth in 2014 on the back of continued industrial reform, said China's State Administration for Science, Technology and Industry for National Defense (SASTIND) on 2 February.

A statement by SASTIND - China's primary agency for defence industry development - said CETC's annual sales in 2014 increased 22% to CNY127 billion (USD20 billion) and that net profit surged by 25% to CNY12.8 billion. SASTIND added that the state-owned group is aiming to achieve annual sales of CNY150 billion and profit of CNY13.8 billion in 2015.

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