China's industrial profits surge, January-November
BEIJING - China's industrial enterprises reported a year-on-year profit rise of 38.8% to 1.02 trillion yuan (US$120 billion) in the first 11 months this year.
Of the total, profits of state-owned enterprises reached 494.5 billion yuan, up 43.9% over the same period last year, according to figures released by the National Bureau of Statistics on December 22.
Meanwhile, profits of collective enterprises stood at 44.6 billion yuan, up 29.4%, while those of overseas-funded enterprises jumped 25% to 309.8 billion yuan. Private industrial enterprises obtained a total profit of 105.9 billion yuan, up 71%.
From January to November, the profits of oil and gas mining industries reached to 166.3 billion yuan, up 43.7%, followed by iron and steel industries whose profits hit 91.1 billion yuan.
Sectors with the highest profit return include oil exploitation, iron and steel, chemical production, electronic and telecommunication and coal mining whose newly-added profits accounted for 52.7% of the total newly added profits in the country's industrial sector.
During the past 11 months, the tax collected from these firms stood at 795.9 billion yuan, up 22% year-on-year. And the sales of the enterprises surged 32.2% to 16.7 trillion yuan.
(Asia Pulse/XIC)
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