Comments
China’s industrial enterprises reported an average rise of 28.3 per cent in profits year-on- year for the last seven months of 2011 against an average increase of 28.7 per cent for the same period of last year.
Profits of the enterprises in the seven months amounted to 2.8 trillion yuan ($430.77 billion), the National Bureau of Statistics (NBS) said on Saturday.
The data was collected from a pool of industrial businesses with at least 20 million yuan of annual sales revenue. Profits of private businesses rose 46.6 per cent to 760.8 billion yuan, the fastest growth compared with a 20.4 per cent rise for state-owned enterprises and 14.4 per cent for foreign-invested companies.
Among 39 industries surveyed, 37 sectors reported profit growth while the communications equipment, computer and other electronic products manufacturing saw profits shrink, Xinhua reported.
Non-ferrous metal mining industry posted the biggest profit gain of 58.7 per cent. It is followed by a 56.6 per cent rise in chemical products making.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.