Profits for China's major industrial firms fall 1.6% in Jan-April 2012

Updated: 28 May 2012
Share this news?...Click box   Bookmark and Share
Read more on industrial firms   NBS   industrial profits  
Profits for Chinese major industrial companies fell 1.6 percent in the first four months from the same period last year, China's statistical authority said Sunday.

Total profits for the largest industrial companies, or those with annual revenues above 20 million yuan (3.17 million U.S. dollars), stood at 1.45 trillion yuan during the first four months, the National Bureau of Statistics (NBS) said in a statement on its website.

The statement said that in April alone, industrial profits dropped 2.2 percent to 407.6 billion yuan from the same period of last year.

State-owned and state-controlled enterprises saw their profits fall 9.9 percent from one year earlier to 457.8 billion yuan in the first four months, while private companies' profits grew 20.9 percent during the same period.

Out of 41 industry categories, 27 reported a year-on-year increase in profits, 11 saw profits fall, one returned to profitability, one went into losses and one saw losses grow.

The ferrous metal sector was hit the hardest, with profits slumping by 57 percent. The chemical raw materials and product manufacturing industries suffered a 24.4-percent drop in profits.

Oil refining, coking and nuclear fuel processing companies also saw profits turn to losses, according to the statement.

Profits in the power generation sector, however, increased 20.1 percent. And the country's oil and gas exploration industry witnessed a 8.2-percent rise in profits, according to the statement.

SOURCE: fdi.gov.cn
Editorial Message
This site contains materials from other clearly stated media sources for the purpose of discussion stimulation and content enrichment among our members only.
whatsontianjin.com does not necessarily endorse their views or the accuracy of their content.
For copyright infringement issues please contact editor@whatsontianjin.com
Share this news?...Click box   Bookmark and Share
Comments Area ( Total Comments: 0 )
  

Business News

New home sales in Beijing expected to hit 16-month high in May
New home sales in Beijing expected to hit 16-month high in May
More than 8,500 new apartments were sold in Beijing in the first 26 days of May, up about 25 percent from the same p...
China to host its 1st int'l fair for trade in services in Beijing
China to host its 1st int'l fair for trade in services in Beijing
Officials from the commerce ministry and Beijing municipal government speak at a press conference for the China Intern...
Nonperfoming loans of China's commercial banks hit RMB438.2b
Nonperfoming loans of China's commercial banks hit RMB438.2b
The China Banking Regulatory Commission in Beijing.   As of the end of the first quarter of 2012, nonperformi...
China's nonfinancial direct investment in N. Korea hits $US29b, 70% in mining
China's nonfinancial direct investment in N. Korea hits $US29b, 70% in mining
North Koreans display national flags during a ceremony in March.   As of the end of 2010, China's nonfinanci...
China expected to be world's largest market for health products in 2015
China expected to be world's largest market for health products in 2015
Visitors examine health products at the Jinan Drugs and Health Products Fair in Shandong province on May 17, 2011. Chi...
China's inflation may rebound, trade deficit seen in Mar: analysts
China's inflation may rebound, trade deficit seen in Mar: analysts
  China's inflation may rebound in March while sluggish exports are likely to result in a trade deficit, analy...