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Chongqing Industries Turns From Deficits to Profits
The industrial sector of Chongqing, the largest metropolis in western China, has turned its four-year deficits into profits in the first half of this year.
The state-owned enterprises and non-state firms with annual sales income of five million yuan in Chongqing made 39 million yuan in profits in the first six months, against losses of 629 million yuan in the same period last year.
The industrial output value of state-owned enterprises came to 31 billion yuan, up 10.2 percent while joint stock firms rose 29 percent at 1.2 billion yuan. The output of enterprises with funds from abroad was 5.8 billion yuan, a 21 percent increase.
Production sales rose to 96 percent. The value of goods for export was 2.1 billion yuan by the end of June, up by 75 percent compared with the figure a year ago. The output value of new products came to 8.5 billion yuan.
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