Global EditionASIA 中文双语Français
Business
Home / Business / Macro

China's industrial profits fall in first 4 months

Xinhua | Updated: 2019-05-27 10:16
Share
Share - WeChat
A technician works on the production line of an energy equipment manufacturer in Nantong, Jiangsu province. [Photo by Xu Congjun/For China Daily]

BEIJING - Profits of China's major industrial firms fell 3.4 percent year-on-year in the January-April period, the National Bureau of Statistics (NBS) said Monday.

Combined profits of industrial firms with annual revenue of more than 20 million yuan ($2.9 million) stood at 1.81 trillion yuan in the first four months of 2019.

Major industrial firms' operating revenue reached 32.84 trillion yuan in the period, up 5.1 percent year-on-year, the NBS data showed.

Zhu Hong, an NBS senior statistician, attributed the decline to lower value-added tax rate which was implemented since April 1, resulting in the earlier unleash of the demands for industrial products in March.

In the four months, State-owned industrial firms' profits dropped 9.7 percent year-on-year, while private firms' profits went up 4.1 percent.

Companies in mining and manufacturing posted profit declines of 0.7 percent and 4.7 percent, respectively.

Among the 41 sub-sectors, 27 saw higher profits and 14 reported lower earnings.

Top
BACK TO THE TOP
English
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
CLOSE