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Industrial Efficiency Improves in First Two Months
The profits of industrial enterprises in China jumped 45.8 percent year-on-year in the first two months of the year, pushing up the composite index of efficiency by 8.1 points to 106.1 points.
The National Bureau of Statistics (NBS) said Monday that Chinese enterprises continued to improve efficiency during January- February on the basis of the ground gained last year. State-owned industrial enterprises have continued the fast rate of reducing losses.
According to the NBS, money-losing state-owned industrial enterprises reduced losses by 18.6 percent over the same period of last year, 16.6 percentage points faster than the reduction rate of one year ago. State-owned enterprises as a whole posted a net profit that was 62.3 percent more than in the same period of last year.
NBS figures show that industrial enterprises continued to improve their financial health over the first two months of the year. The total amount of deferred payments to products sold grew by only eight percent over the same period of last year, 1.2 percentage points lower than the growth rate of one year ago. The enterprises reduced losses by 12 percent and paid 14 percent more taxes as compared with one year ago.
According to the NBS, the sales revenue of the industrial enterprises continued to grow rapidly during January-February, though the growth rate was smaller than in the same period of last year. The sales revenue rose 14.5 percent, 6.2 percentage points slower than one year ago.
Stockpiles at industrial enterprises grew 5.9 percent over one year ago at the end of February. The increase was 3.3 percentage points larger than one year ago.
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