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China Improves Industrial Efficiency
The compound index of economic efficiency of industrial enterprises in China increased to 113.7 points by the end of September, 17.1 points higher than one year ago and 4.3 points higher than that of the first half of this year.
Over the nine months of this year, sales of industrial enterprises grew by 21.7 percent over the same period last year to 5,834.5 billion yuan.
Stockpiles ended the upward tendency for eight consecutive months and dropped by 1.9 billion yuan over that in August. By the end of September however, stockpiles at industrial enterprises still totaled 679.4 billion yuan, 3.6 percent more than one year ago.
Over the period, Chinese industrial enterprises earned a net profit of 284.1 billion yuan, doubling the figure for the same period last year.And they paid a total of 356.8 billion yuan in taxes, 17.4 percent more than a year ago.
Unprofitable enterprises cut losses by 12.9 percent over the same period last year to 92.3 billion yuan.
Industrial enterprises also have 1,439.1 billion yuan in credit, 8.9 percent more than the corresponding period last year.
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