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Chinese Industrial Profits Grow Steadily
Profits of industrial enterprises jumped 25.4 percent year-on-year to 212.36 billion yuan (25.7 billion U.S. dollars) in the first half of this year, official figures show.
According to the statistics released by the National Bureau of Statistics (NBS) Tuesday, the half-year growth of industrial profits was five percentage points lower than that in the first five months of the year.
NBS figures show that losses of money-losing enterprises amounted to 62.24 billion yuan during January-June, 7.9 percent lower than the same period of last year. The reduction of losses was 2.5 percentage points slower than in the first five months of the year.
The composite index of economic efficiency of Chinese industrial enterprises rose 7.2 points year-on-year to 118.6 in the first half of this year, according to the NBS. The index was also 2.1 points higher than in the first five months of this year.
The NBS said that the sales revenue of industrial enterprises totaled 4,266.16 billion yuan, up 14.6 percent over the same period of last year. By the end of June, stockpiles of products reached 708.61 billion yuan in value, 8.7 percent more than one year ago.
In the first half of this year, the newly-increased profits of such industries as oil refining, metallurgy, transport equipment manufacturing, electrical appliance manufacturing, oil exploration and electricity all surpassed two billion yuan, adding up to 22.3 billion yuan in total and accounting for 51.9 percent of the total of all industrial enterprises.
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