Chinese companies with sales in excess of 5 million yuan
reported 903 billion yuan of profits in the first five months of
this year, up 42.1 percent year on year, the National Bureau of
Statistics said Wednesday.
State-owned enterprises and state-controlled companies generated
419.3 billion yuan in profits, up 42.3 percent, according to the
bureau.
Collectively-owned industrial firms with annual sales over 5
million yuan reported 22.3 billion yuan in profits during the five
months, up 24 percent, while joint-stock firms in the same category
generated 484.5 billion yuan in profits, up 39.5 percent.
Foreign-funded firms and those funded by investors from China's
Hong Kong, Macao and Taiwan generated 241.9 billion yuan in
profits, up 38.6 percent, and private firms reported 137.9 billion
yuan in profits, up 48.6 percent.
The iron and steel sector was one of the standouts with its
profits up 120 percent year on year for the five months, followed
by the building materials sector, which reported a 70.1 percent
jump in profits, said the bureau.
The bureau said profits grew by 220 percent in the chemical
fiber sector and by 69.4 percent in the chemical industry.
The telecom equipment manufacturing sector reported a 4.6
percent growth in profits, and the oil processing and coking sector
earned 34.3 billion yuan in profits, compared with 19.9 billion
yuan in losses for the same period of last year.
The bureau said the oil and natural gas sector in China suffered
an 18.3 percent drop in profits.
Between January and May, industrial firms paid 627.1 billion
yuan in taxes, up 24.9 percent, on total revenues of 14.2 trillion
yuan, up 27.4 percent.
(Xinhua News Agency June 28, 2007)