Huzhou, East China's Zhejiang province. [Photo/VCG]

The industrial output value of companies above designated size (output growth of industries with annual revenue of 20 million yuan-$2.88 million－or more from their main business operations)  in Huzhou rose 1.5 percent year-on-year to 391.11 billion yuan in the first 10 months, official data show.

The growth rate was the third fastest in East China's Zhejiang province

From January to October, the added value of companies above designated size in the city amounted to 77.83 billion yuan, representing a yearly uptick of 3.2 percent.

Over the same period, profits of aforementioned companies expanded 14 percent.

Twelve sectors, including electrical machinery, electric and thermal power, and general equipment, saw an increase of over 20 percent year-on-year in profits.

Profits of enterprises in the non-ferrous metal sector, driven by roaring demand, soared 117.1 percent year-on-year, while the figure for the pharmaceutical manufacturing industry was 174.6 percent.

About 20 percent of enterprises above designated size experienced net revenue loss as of the end of October, 40.6 percent less than early this year.