China's Economic Performance Continues to Improve

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Last updated at: (Beijing Time) Wednesday, November 27, 2002

China's Economic Performance Continues to Improve

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The Chinese economy has shown steady improvement in its performance this year, with the comprehensive index of the economic efficiency of industrial enterprises reaching 127.3 in the first ten months, a 6.4-point rise over the same period of last year, official figures released Tuesday show.

Figures from the National Bureau of Statistics (NBS) show China's industrial enterprises made a profit of 437.4 billion yuan (52.6 billion US dollars) from January to October, up 16.3 percent from the same period of last year. The growth rate was 2.7 percentage points more than the first nine months of this year.

State-run enterprises had brought in a profit of 205.6 billion yuan (24.7 billion US dollars) during the January-October period, increasing 6 percent year-on-year. The growth rate was 5.1 percentage points more than the first nine months of this year.

According to the NBS, 37 of the 40 trades reviewed either increased profits or dropped losses. The transportation equipment manufacturing industry made the greatest contribution to the totalprofit growth of industrial enterprises.

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