Chinese steel enterprises’ profits down 9.9 percent in Jan-Nov

Monday, 28 December 2020 14:09:54 (GMT+3)   |   Shanghai

In the January-November period this year, of the 41 industrial sectors in China, 25 witnessed year-on-year increases in gross profit, while 15 saw decreases 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 211.49 billion ($32.4 billion), declining by 9.9 percent year on year, 3.0 percentage points slower than the declining pace recorded in the first ten months of the current year.

The automotive sector recorded a gross profit of RMB 478.11 billion ($73.2 billion) in the first 11 months of the current year, up 7.2 percent year on year, up 0.6 percentage points compared to the increase in the first ten months this 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 33.24 billion ($5.1 billion), RMB 142.98 billion ($21.9 billion) and RMB 52.04 billion ($8.0 billion), up 45.0 percent, 4.4 percent and 1.1 percent year on year, respectively.

In the January-November period this year, the aggregate gross profit of large and medium-sized industrial enterprises in China amounted to RMB 5.7445 trillion ($0.88 trillion), up 2.4 percent year on year, 1.7 percentage points faster than the increase rate recorded in the first ten months this year.

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