Latest News:  
Beijing   Cloudy    30 / 20   City Forecast

Home>>China Business

Most listed Chinese firms forecast profit growth in Jan.-Sept.

(Xinhua)

10:43, August 23, 2011

BEIJING, Aug. 22 (Xinhua)-- A majority of listed Chinese companies have forecasted growing profits in the first three quarters of this year despite growing concerns over a global economic downturn, according to recent data.

Out of 510 listed companies that issued earnings forecasts for the first three quarters as of Sunday night, 402 firms said they will stay in the black and 312 expect profits to grow from the previous year, accounting for 78.8 percent and 61.2 percent of the total, respectively, according to Wind Information, a Shanghai-based financial data provider.

Fifty-seven listed companies predicted that they may double their earnings in the Jan.-Sept. period after robust performances during the first half of the year.

Some companies expect higher profits due to company restructuring, mergers and acquisitions as well as increases in sales.

Of those expecting profit increases, 74 are mechanical devices manufacturers with chemical and electronic enterprises also expecting higher profits, according to Wind Information.

China's economy is generally healthy and is not at risk for a hard landing in spite of a slowdown in growth, Zhang Xiaoqiang, vice chairman of the National Development and Reform Commission (NDRC), said earlier this month.

As the world's second-largest economy, China expanded at 9.6 percent year-on-year in the first half of this year, with the second quarter recording a 9.5-percent rise, down from 9.7 percent in the first quarter.

Email|Print|Comments(Editor:燕勐)

Leave your comment0 comments

  1. Name

  

Selections for you


  1. Formation flying drill promotes all-weather capability

  2. Monaco princess covers Vogue Paris

  3. Libyan rebels advance from Tripoli's outskirts into city center

  4. Rain-triggered mudslides trap 100 in central China

Most Popular

Opinions

  1. Death penalty may appeal, but law has higher call
  2. For love or property, law sheds a light
  3. Trickery in the name of philanthropy
  4. Tripoli under siege, but what comes next ?
  5. Government must meet public demand for openness
  6. 'Special Hong Kong' is wish of Chinese society
  7. People's indifference appalling
  8. Joe Biden's visit more than a courtesy call
  9. China needs caution in drive to up gold reserves
  10. China has right to own aircraft carriers

What's happening in China

Young survivor transferred to Shanghai

  1. More high-speed trains slow down to improve safety
  2. Rapist sentenced to death again
  3. Probe links cases of hep C to clinic
  4. Police probe missing Vietnamese wives
  5. Agency sets new rules for safety in coal mines

PD Online Data

  1. The She ethnic minority
  2. The Yao ethnic minority
  3. The Russian ethnic minority
  4. The Oroqen ethnic minority
  5. The Li ethnic minority