Profit growth of China's industrial sector up 19.4 pct in first 8 months
26/9/2008 17:46
China's major industrial enterprises each with an annual sales volume of
at least 5 million yuan (US$735,000) garnered 1.87 trillion yuan in combined
profits in the first eight months of this year, the National Bureau of
Statistics said today.
The figure was 19.4 percent higher than the same
period of last year.
The total profits included 677 billion yuan generated by
state-owned and state-controlled enterprises, up 0.7 percent, 389.2 billion yuan
by private enterprises, up 48.6 percent, and 499.3 billion yuan by
overseas-funded businesses, up 14.3 percent.
In breakdown, oil and gas sector
posted a 54.7 percent profit growth, coal sector, a growth of 142.8 percent,
steel sector, up 31.5 percent, chemical sector, up 32 percent, and building
materials sector, up 40.3 percent. The transport equipment manufacturers had
their combined profits up 35.1 percent, while the electronic and
telecommunication equipment producers recorded a profit rise of 18.2
percent.
However, the electricity sector suffered a profit decline of 81.6
percent, and the chemical fiber sector had their gains down 47.1
percent.
Between January and August, the major industrial enterprises
nationwide paid 1.33 trillion yuan in taxes, up 26.7 percent.
Xinhua
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