China's Industrial Profits Retain Fast Growth

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Last updated at: (Beijing Time) Monday, May 26, 2003

China's Industrial Profits Retain Fast Growth

The profits of Chinese industrial enterprises surged 75.7 percent year-on-year from January to April, according to official statistics revealed Monday.

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The profits of Chinese industrial enterprises surged 75.7 percent year-on-year from January to April, according to official statistics revealed Monday.

A monthly report released by the National Bureau of Statistics (NBS) noted that the total profits of industrial enterprises reached 225.55 billion yuan (27.27 billion US dollars) in the first four months, 97.15 billion yuan more than in the same periodof last year.

Sales of industrial enterprises rose 28.2 percent year-on-year in the period, two percentage points lower than in the first quarter. Taxes paid by the industrial enterprises rose 19.1 percent to 218 billion yuan.

The NBS said rapid growth was recorded in such industries as oil and natural gas extraction, manufacturing of transport equipment, black metal melting, pressing and rolling, chemicals and raw chemical materials, petroleum refining, coking and nuclearfuel processing, which accounted for 66 percent of the total newlyincreased industrial profits.

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