China’s industrial enterprises’ gross profit down 14% in Jan-Feb

Wednesday, 27 March 2019 11:34:03 (GMT+3)   |   Shanghai

In the January-February period of the current year, the aggregate gross profit of large and medium-sized industrial enterprises in China amounted to RMB 708.01 billion ($105.5 billion), down 14.0 percent year on year, as announced by China's National Bureau of Statistics (NBS).

In the January-February period of the year, of the 41 industrial sectors in China, 20 witnessed year-on-year increases in gross profit, while 20 saw decreases in gross profit, with the remaining sector recording a stable gross profit. In the given period, the ferrous metal smelting and rolling sector and the automotive sector recorded respective gross profits of RMB 20.16 billion ($3.0 billion) and RMB 51.23 billion ($7.6 billion), declining by 59 percent and 42 percent year on year, respectively.

At the same time, the ferrous metals mining and dressing sector, the metal manufacturing sector and the railway, shipping, aerospace and other transportation equipment manufacturing sector recorded gross profits of RMB 2.88 billion ($0.43 billion), RMB 18.3 billion ($2.7 billion) and RMB 5.31 billion ($0.8 billion), up 130.4 percent, 8.8 percent and 83.7 percent year on year, respectively.

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