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Jan-Oct Industrial Profits Up 40%

China's industrial enterprises saw a 40 percent profit increase year-on-year in the first ten months of this year, making 900 billion yuan, or 109 billion US dollars.

 

Slightly down from a growth rate of 39.8 percent recorded in the first nine months, the figure covers all state-owned and state-controlled enterprises, as well as privately owned ones.

 

Among the 39 major industrial sectors, steel, non-ferrous metal and construction material enjoyed profits increase by 70 percent though they have been the target of a government crackdown on excessive investment.

 

Other sectors like oil exploration, chemical engineering and telecommunications also saw significant profit increases.

 

(CRI.com November 23, 2004)

Industrial Profit Growth Starts to Slow
Industrial Profits Rise Rapidly: NBS
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Industrial Profits Up 49 Percent in First 9 Months
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