China's National Bureau of Statistics has announced that in the first four months of the current year the overall net profit of the Chinese steel industry declined by 57 percent year on year.
Meanwhile, in January-April of the current year the overall net profits of Chinese domestic enterprises above designated size (i.e., with business revenues in excess of RMB 20 million ($3.15 million)) totaled RMB 1.4525 trillion ($229.02 billion), down 1.6 percent year on year. In April alone, the overall net profit of these enterprises amounted to RMB 407.6 billion ($64.27 billion), down 2.2 percent year on year.
According to the NDRC, in the first quarter of this year the overall net profit registered by the Chinese steel industry totaled RMB 18.33 billion ($2.89 billion), down 67.8 percent year on year.