China’s industrial enterprises’ gross profit down 2.3% in January-May

Thursday, 27 June 2019 11:24:57 (GMT+3)   |   Shanghai

In the January-May period of the current year, the aggregate gross profit of large and medium-sized industrial enterprises in China amounted to RMB 2.37 billion ($346.8 billion), down 2.3 percent year on year, as announced by China's National Bureau of Statistics (NBS).

In the January-May period of the year, of the 41 industrial sectors in China, 26 witnessed year-on-year increases in gross profit, while 15 saw decreases in gross profit. In the given period, the ferrous metal smelting and rolling sector and the automotive sector recorded respective gross profits of RMB 115.99 billion ($16.9 billion) and RMB 188.16 billion ($27.4 billion), declining by 22.4 percent and 27.2 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 8.16 billion ($1.2 billion), RMB 57.62 billion ($8.4 billion) and RMB 22.02 billion ($3.2 billion), up 229.0 percent, 18.6 percent and 42.9 percent year on year, respectively.

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