2024-05-01 13:17:06
The total profit of large industrial companies in China in the first quarter increased by 4.3% compared to the same period last year – to 1 trillion 505.5 billion yuan, according to a report by the State Statistical Office (GSU), Day.Az reports with reference to Interfax.
Large GSUs include industrial enterprises with annual revenues of over 20 million yuan ($2.82 million).
Profits of state-owned companies in January-March fell by 2.6%, private companies – increased by 5.8%.
Profits of Chinese manufacturers of computers, communications and other electronic equipment jumped 1.8 times. Growth was also noted in the electricity production sector (by 47.5%), in non-ferrous metallurgy (by 57.2%), in the automotive industry (by 47.5%), and in the oil and gas industry (by 3.8%).
Meanwhile, the profits of coal industry enterprises fell by 33.5%, and of chemical producers – by 3.5%.
An increase in profits in the first quarter was noted in 28 of China’s 41 industries.
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