Latest News:  
Beijing   Cloudy/Sunny    33 / 21 ℃  City Forecast

English>>China Business

Real Economy Faces Real Challenges

(Beijing Review)

08:38, August 28, 2012

An investor watches stock prices at a securities company in Hangzhou, Zhejiang Province. China's real economy is weakening the stock market due to the downturn pressure (Beijing Review/Han Chuanhao)

Shanghai-listed Tianjin Quanyechang (Group) Co. Ltd. unveiled on July 11 its performance in the first half of 2012, the first listed company to do so this year. According to their commitment to the China Securities Regulatory Commission (CSRC), all 2,428 listed companies in China will publish interim reports by August 31.

By August 20, a total of 1,700 companies had released their reports. The results have been underwhelming, suggesting that China's real economy seems to still be lingering in the shadow of the financial crisis.

Slower profit growth

According to the announcement by Tianjin Quanyechang, in the first half it recorded 553 million yuan ($87.09 million) of sales revenue and 4.41 million yuan ($694,488) of net profits, up by 22.62 percent and 60.38 percent, respectively, year on year. The earning per share stood at 0.01 yuan (0.16 cents). The promising outlook from the year's beginning, however, didn't bring too much surprise to the investors. Among the 1,700 listed companies, fewer than 600 recorded growing net profits.

In the second quarter, net profits of the 1,700 listed companies grew by only 3.8 percent over a year ago and the quarterly growth was 29 percent. In comparison, profit growth of listed companies on the quarterly basis surpassed 40 percent in the first quarter this year and the second quarter last year, an indication that performance of listed companies is growing remarkably slowly.

【1】 【2】 【3】 【4】

News we recommend:
Amusement parks boost real estate market Survey shows SOE jobs are top choice CNOOC pushes ahead with Nexen acquisition
The Pain of a Pension Deficit Staying on Target More new grads opt for State firms
Treading Lightly for Fast Growth  Questions raised over stores' price war A fertile ground for overseas banks


Leave your comment0 comments

  1. Name


Selections for you

  1. Female panda born in Sichuan

  2. Indian beauties wearing gold jewelry

  3. Apple losing smartphone battle to Samsung

  4. 2012 China Miss Tourism Int'l crowned

  5. Female stars in see-through dress

  6. The most expensive hotel in Dubai

Most Popular


  1. Public needs to see where tax money goes
  2. Should China boycott Japanese goods?
  3. US launches financial attacks against its allies
  4. When will Chinese-style love tragedy move world?
  5. Stakes high for Romney in Republican convention
  6. The costs of luxury spending are booming
  7. Sleeper buses need best mechanic in country
  8. Commentary: Quality of governance essential
  9. Brand positioning through experience
  10. Visits highlight Cairo foreign policy change

What's happening in China

Man pricked by syringe with HIV

  1. Disgruntled ex-employee burns 3 dead
  2. China launches $372 bln pollution reduction drive
  3. 'Special-ability' class taught kids to cheat
  4. Island will boost Pearl River vision
  5. Acid rain hangs cloud over province

China Features

  1. China no longer simply 'world's factory'
  2. Sharp depreciation of yuan unlikely
  3. Special Coverage: Chinese Valentine's Day
  4. Rare tornadic waterspouts appear in Guangxi
  5. Tips for 'Stopping the Heat' [Special]

PD Online Data

  1. Spring Festival
  2. Chinese ethnic odyssey
  3. Yangge in Shaanxi
  4. Gaoqiao in Northern China
  5. The drum dance in Ansai