China's major enterprises 49% more profitable this year

16:37, December 27, 2010      

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China's major industrial enterprises reported a 49 percent increase in profits over the first 11 months of 2010, reaching 3.9 trillion yuan. Their main business has yielded 62 trillion yuan of revenue, which is 32 percent higher than the same period of last year.

An industrial enterprise that has annual revenue of more than 5 million yuan from its main business is known as an above-scale enterprise. The statistics reflect the performance of these enterprises.

State-owned enterprises (SOEs) led the growth. Their combined profit of 1.2 trillion yuan marks a growth of 59 percent. Collectively-owned enterprises are up by 35 percent to 68.9 billion yuan, while share-holding companies were up by 49 percent to 2.1 trillion yuan.

Foreign-funded enterprises, including those from China's Hong Kong, Macao and Taiwan, generated 1.1 trillion yuan of profits, rising by 46 percent. The private sector posts 1 trillion yuan of profit during this period, surging 49 percent.

The fastest profit growth was seen in the chemical fiber manufacturing and ferrous metal sectors. Both have doubled their profits. Mining and processing of non-ferrous metals and power generation also enjoyed high profit growth of 82 percent and 74.5 percent, respectively.

By Li Jia, People’s Daily Online
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