In the January-June period this year, of the 41 industrial sectors in China, 31 witnessed year-on-year decreases in gross profit, while nine saw increases in gross profit and the gross profit of one sector remained stable, as announced by China's National Bureau of Statistics (NBS). In the given period, the ferrous metal smelting and rolling sector recorded a gross profit of RMB 84.08 billion ($12.0 billion), declining by 40.3 percent year on year.
The automotive sector recorded a gross profit of RMB 190.42 billion ($27.2 billion) in the first six months of the current year, down 20.7 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 12.21 billion ($1.74 billion), RMB 56.94 billion ($8.1 billion) and RMB 24.51 billion ($3.5 billion), up 24.2 percent, down 11.2 percent and down 4.8 percent year on year, respectively.
In the January-June period this year, the aggregate gross profit of large and medium-sized industrial enterprises in China amounted to RMB 2.51149 trillion ($0.36 trillion), down 12.8 percent year on year.
Zhu Hong, senior statistician of the industrial division of the NBS, stated that industrial sectors’ profitability improved further in June due to improved demand from downstream users, rising industrial product prices, easing pressure from the cost side, and the effectiveness of stimulus policies.
$1 = RMB 7.0029