In the January-July period this year, of the 41 industrial sectors in China, 16 witnessed year-on-year increases in gross profit, while 25 saw decreases 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 56.9 billion ($8.3 billion), decreasing by 80.8 percent year on year, 12.1 percentage points faster than the decline recorded in the January-June period.
The automotive sector recorded gross profits of RMB 273.94 billion ($39.9 billion) in the first seven months, down 14.4 percent year on year, 11.1 percentage points slower than the decrease recorded in the January-June period.
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 43.93 billion ($6.4 billion), RMB 97.75 billion ($14.2 billion) and RMB 33.47 billion ($4.9 billion), down 23.4 percent, down 11.1 percent and up 1.0 percent year on year, respectively.
In the January-July period, the aggregate gross profit of large and medium-sized industrial enterprises in China amounted to RMB 4.89 trillion ($0.71 trillion), down 1.1 percent year on year.
$1 = RMB 6.8698