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Last updated at: (Beijing Time) Wednesday, December 25, 2002

China's Industrial Profit Growth Picks up

Profits of China's industrial enterprises continued to increase growth rate in November, registering a 19.5-percent growth for the first 11 months of the year.


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Profits of China's industrial enterprises continued to increase growth rate in November, registering a 19.5-percent growth for the first 11 months of the year.

Figures released by the National Bureau of Statistics (NBS) showed net profits of industrial enterprises totaled 495.6 billion Yuan (59.9 billion US dollars) during January-November. The profit growth in the period was 3.2 percentage points higher than in the first ten months of the year.

Meanwhile, the losses of money-losing industrial enterprises decreased 4.5 percent over the same period of last year to 101.7 billion yuan.

The NBS said economic efficiency of Chinese industrial enterprises were on the rise during January-November. Net profits of the enterprises have been growing at a faster rate and losses of money-losing enterprises keep declining. State-owned enterprises improved performance greatly in the period.

NBS figures showed net profits of state-owned industrial enterprises grew 10.2 percent during January-November, 4.2 percentage points faster than in the January-October period. Losses of money-losing SOEs dropped 7.9 percent over the same period of last year.

According to the NBS, sales of industrial enterprises surged 16.4 percent year-on-year to 9,609.6 billion yuan during January to November.


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