GLOBALink | China's industrial profits down 2.1 pct in first 8 months

Published in CHINA
Tuesday, 27 September 2022 16:21

Profits of China's major industrial firms fell 2.1 percent year on year in the first eight months of 2022, official data showed on Tuesday.

Industrial firms each with annual main business revenue of at least 20 million yuan (about 2.83 million U.S. dollars) saw their combined profits reach 5.53 trillion yuan in the period, the National Bureau of Statistics (NBS) said.

The combined revenues of these firms sustained a quicker growth pace during the period, rising 8.4 percent year on year to 87.89 trillion yuan, NBS data showed.

Senior NBS statistician Zhu Hong pointed out the improvement in business profit structure, noting that curbed rising momentum in the prices of some commodities eased pressure on downstream producers.

A total of 16 out of 41 major industries saw growth in profits in the January-August period. The electrical machinery and equipment manufacturing sector saw profits jump 20.9 percent year on year and the profits of the manufacturing of chemical raw materials and chemical products rose 5 percent.

The profits of consumer goods manufacturing have continued to improve thanks to an array of pro-consumption measures by the government to boost market demand, Zhu noted.

Produced by Xinhua Global Service

 

Read 97 times

Related items

Business News

Silk Road Tbilisi Forum 2015 has started

Silk Road Tbilisi Forum 2015 has started

Silk Road Tbilisi 2015 forum started today. Following the success of the inaugural Routes Silk Road...

Agreement between SES and GEE

Agreement between SES and GEE

A new multi-year agreement was signed between worldwide satellite operator SES and Global Eagle Ente...

Visa free regime to impose for 15 February

Visa free regime to impose for 15 February

The visa regime imposed by Georgia to Iran has been cancelled for 15 February,” -the Deputy Ambassad...

USA to allocate 63 million US dollars for Georgia

USA to allocate 63 million US dollars for Georgia

U.S. Department of State to allocate 63 million US dollars for Georgia. According to the budgetary d...

MOST READ

« December 2022 »
Mon Tue Wed Thu Fri Sat Sun
      1 2 3 4
5 6 7 8 9 10 11
12 13 14 15 16 17 18
19 20 21 22 23 24 25
26 27 28 29 30 31  

About

The News Agency,
NEWSDAY.GE is
a part of STARVISION
Media Group.
It made its first
appearance on the Internet..More

 

Contact

NEWSDAY Ltd.
Lechkhumi street.43

Georgia,Tbilisi

Phone: (+995 32) 257 91 11
E-mail: avtandil@yahoo.com

 

 

 

Social Media