Xiamen tech firms report strong growth for 2018 revenue

Xiamen's software and information technology services industry earned a total of 149.3 billion yuan in 2018, up by more than 16 percent year-on-year.

Industry analysts suggest that the nascent 5G industry will spur local growth, with firms such as Alibaba, Huawei and Tencent establishing or growing cloud computer facilities in Xiamen.

Xiamen Hongxin Electron-Tech, a flexible printed circuit board manufacturer, reported annual gross revenue of 2.2 billion yuan, up 52.2 percent-year-on-year. The manufacturer supplies companies such as Huawei, Vivo and Xiaomi. The firm reported a net income of 130 million yuan, up 35.2 percent year-on-year.