In 2021, of the 41 industrial sectors in China, 32 witnessed year-on-year increases in gross profit, while eight saw decreases in gross profit, and one shifted from profit to loss, 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 424.09 billion ($67.1 billion), rising by 75.5 percent year on year, 28.8 percentage points slower than the rising pace recorded in the first 11 months of the past year.
The automotive sector recorded a gross profit of RMB 530.57 billion ($84 billion) in 2021, up 1.9 percent year on year, shifting from the year-on-year decline of 3.4 percent recorded in the first 11 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 77.45 billion ($12.2 billion), RMB 225.67 billion ($35.6 billion) and RMB 53.81 billion ($8.5 billion), up 113.5 percent, up 28.7 percent and down 15.9 percent year on year, respectively.
In 2021, the aggregate gross profit of large and medium-sized industrial enterprises in China amounted to RMB 8.70921 trillion ($1.37 trillion), up 34.3 percent year on year, 3.7 percentage points slower than the rise recorded in the first 11 months of the year.
$1 = RMB 6.3382