Geely production

A SATELLITE factory of Chinese automaker Geely Holding Group will start production this year after authorities approved the commercial satellite manufacturing project.

Owned by Geely’s subsidiary, Geely Technology Group, in Taizhou, Zhejiang Province, the satellite factory was approved by the National Development and Reform Commission last week. It is the country’s first company-led commercial satellite production facility with aerospace manufacturing and automobile manufacturing capabilities.

Light industry

THE country’s light industry registered higher profits but lower revenue in 2020 with the sector’s production and operation gradually recovering, official data showed.

Some 108,700 companies with annual revenue of over 20 million yuan (US$3.09 million) raked in 1.33 trillion yuan in profits last year, up 3.6 percent year on year, according to the Ministry of Industry and Information Technology.

Pork prices

PORK prices in China went up last month as demand exceeded supply, official data showed.

The average pork price index in 16 provincial-level regions tracked by the Ministry of Agriculture and Rural Affairs was 45.62 yuan per kg in January, up 6.1 percent month on month. The price index dropped 3.8 percent compared with the same period last year, widening by 0.9 percentage points from the previous month.

IC market

THE country’s integrated circuit (IC) market, the world’s largest, saw robust growth in 2020, with the market size reaching US$143.4 billion last year, according to an industrial report.

The market size was 9 percent bigger compared with the US$131.3 billion recorded in 2019, said IC Insights, a leading semiconductor market research company.