In the January-August 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 41.05 billion ($5.8 billion), decreasing by 87.7 percent year on year, 6.9 percentage points faster than the declining pace recorded in the January-July period.
The automotive sector recorded gross profits of RMB 316.28 billion ($44.7 billion) in the first eight months, down 7.3 percent year on year, 7.1 percentage points slower than the decline recorded in the January-July 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 47.95 billion ($6.8 billion), RMB 114.6 billion ($16.2 billion) and RMB 38.57 billion ($5.5 billion), down 27.9 percent, down 11.5 percent and up 4.7 percent year on year, respectively.
In the January-August period, the aggregate gross profit of large and medium-sized industrial enterprises in China amounted to RMB 5.53 trillion ($0.78 trillion), down 2.1 percent year on year.
$1 = RMB 7.0722
