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According to the China Iron and Steel Association (CISA), in December last year the aggregate gross profit of Chinese large and medium-sized steel producing enterprises came to RMB 3.022 billion ($479.7 million), up from RMB 1.222 billion ($193.97 million) in the previous month. In the full year of 2011, these enterprises recorded a total gross profit of RMB 87.53 billion ($13.9 billion), down 4.51 percent year on year.
 
In December, the sales revenue of the enterprises in question reached RMB 291.423 billion ($46.26 billion). Meanwhile, the sales revenue figure for the whole of 2011 totaled RMB 3.62 trillion ($574.6 billion), up 18.65 percent compared to 2010.
 
Based on the gross profit and sales revenue figures, it is estimated that the profit margin of Chinese large and medium-sized steel producing enterprises in 2011 was only 2.4 percent, down from 2.91 percent in 2010.