In 2022, of the 41 industrial sectors in China, 21 witnessed year-on-year increases in gross profit, while 19 saw decreases in gross profit, and one sector shifted from loss to profit, as announced by China's National Bureau of Statistics (NBS) on January 31. In the given year, the ferrous metal smelting and rolling sector recorded a gross profit of RMB 36.55 billion ($5.4 billion), decreasing by 91.3 percent year on year, 3.2 percentage points slower than the declining pace recorded in the January-November period.
The automotive sector recorded a gross profit of RMB 531.96 billion ($78.8 billion) in 2022, up 0.6 percent year on year, 0.3 percentage points higher compared to the increase rate recorded in the first 11 months last 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 59.49 billion ($8.8 billion), RMB 206.57 billion ($30.6 billion) and RMB 76.87 billion ($11.4 billion), down 22.0 percent, down 10.5 percent and up 44.5 percent year on year, respectively.
In 2022, the aggregate gross profit of large and medium-sized industrial enterprises in China amounted to RMB 8.40385 trillion ($1.24 trillion), down 4.0 percent year on year.
$1 = RMB 6.7492
