Chinese industrial enterprises’ gross profit down 1.9% in Jan-Nov
In the January-November period of the current year, the aggregate gross profit of large and medium-sized industrial enterprises in China amounted to RMB 5.53868 trillion ($855.26 billion), decreasing by 1.9 percent year on year, according to data released by China’s National Bureau of Statistics (NBS) on December 27.
Of the 41 major industrial sectors in China, in the January-November period this year 29 sectors registered year-on-year increases in gross profit, while 11 sectors witnessed year-on-year decreases in gross profit. In the January-November period this year, the aggregate gross profit of the ferrous metal mining industry in China was RMB 40.70 billion ($6.29 billion), decreasing by 42.4 percent year on year. Meanwhile, the aggregate gross profit of the ferrous metal smelting and processing industry in China was RMB 41.78 billion ($6.46 billion) in the given period, declining by 68 percent year on year. The aggregate gross profit of the metal product manufacturing sector in China in the January-November period was RMB 178.28 billion ($27.55 billion), increasing by 6.5 percent year on year. In addition, in the given period, the total gross profit of China’s automobile manufacturing sector amounted to RMB 529.57 billion ($81.85 billion), indicating a year-on-year increase of 0.6 percent, while the total gross profit of the country’s railway, ship, aerospace and transportation machinery and equipment manufacturing sector increased by 4.2 percent year on year to RMB 85.06 billion ($13.15 billion).