Chinese industrial enterprises’ gross profits edge down in Jan-July
In the January-July period of the current year, the aggregate gross profit of large and medium-sized industrial enterprises in China amounted to RMB 3.31731 trillion ($518.33 billion), decreasing by one percent year on year, according to data released by China’s National Bureau of Statistics (NBS) on August 28.
Of the 41 major industrial sectors in China, in the January-July period this year 31 sectors registered year-on-year increases in gross profit, while 10 sectors witnessed year-on-year decreases in gross profit. In the January-July period this year, the aggregate gross profit of the ferrous metal mining industry in China was RMB 22.86 billion ($3.57 billion), decreasing by 45.4 percent year on year. Meanwhile, the aggregate gross profit of the ferrous metal smelting and processing industry in China was RMB 39.15 billion ($6.12 billion) in the given period, declining by 37.9 percent year on year. The aggregate gross profit of the metal product manufacturing sector in China in the January-July period was RMB 101.89 billion ($15.92 billion), increasing by 9.9 percent year on year. In addition, in the given period, the total gross profit of China’s automobile manufacturing sector amounted to RMB 331.37 billion ($51.78 billion), indicating a year-on-year decrease of 2.4 percent, while the total gross profit of the country’s railway, ship, aerospace and transportation machinery and equipment manufacturing sector increased by 2.3 percent year on year to RMB 47.94 billion ($7.49 billion).