Chinese steel and rolling sector enterprises’ profits up 271% in Jan-Feb

Monday, 29 March 2021 12:24:07 (GMT+3)   |   Shanghai
       

In the January-February period of the current year, of the 41 industrial sectors in China, 38 witnessed year-on-year increases in gross profit, while two saw decreases and one recorded a stable trend in gross profit, as announced by China's National Bureau of Statistics (NBS). In the given period, the ferrous metal smelting and rolling sector recorded gross profits of RMB 48.05 billion ($7.3 billion), rising by 271 percent year on year.

The automotive sector recorded gross profits of RMB 83.23 billion ($12.7 billion) in the given period, up 2525.6 percent year on year.

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 9.59 billion ($1.5 billion), RMB 23.09 billion ($3.5 billion) and RMB 4.56 billion ($0.7 billion), up 3895.8 percent, 182.6 percent and 508 percent year on year, respectively.

In the January-February period of 2020, the Covid-19 pandemic exerted a negative impact on the aggregate gross profit of large and medium-sized industrial enterprises in China and so in the given period this year industrial sectors in China recorded sharp year-on-year rises in gross profits.

In the first two months this year, the aggregate gross profit of large and medium-sized industrial enterprises in China amounted to RMB 1.11401 trillion ($0.17 trillion), up 1.79-fold year on year, while rising by 72.1 percent compared to the same period of 2019.


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