Chinese steel enterprises’ profits up 144.8 percent in Jan-Sept

Wednesday, 27 October 2021 12:14:35 (GMT+3)   |   Shanghai
       

In the January-September period this year, of the 41 industrial sectors in China, 35 witnessed year-on-year increases in gross profit, while five saw decreases in gross profit, and one shifted from a loss to an increase, 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 366.58 billion ($57.4 billion), rising by 144.8 percent year on year, 10.8 percentage points slower than the rising pace of 155.6 percent recorded in the first eight months of the current year.

The automotive sector recorded gross profits of RMB 379.97 billion ($59.5 billion) in the first nine months of the current year, up 1.2 percent year on year, 4.3 percentage points slower than the increase rate recorded in the first eight 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 72.79 billion ($11.4 billion), RMB 145.03 billion ($22.7 billion) and RMB 43.05 billion ($6.7 billion), up 145.8 percent, 35.7 percent and 5.0 percent year on year, respectively.

In the January-September period this year, the aggregate gross profit of large and medium-sized industrial enterprises in China amounted to RMB 6.344 trillion ($0.99 trillion), up 44.7 percent year on year, 4.8 percentage points slower than the rise recorded in the first eight months this year.

$1 = RMB 6.3856


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