Current location:sport >>
China's industrial recovery gaining steam despite profits dip
sport672People have gathered around
IntroductionA worker works at a factory of Harbin Electric Machinery Company Ltd. of Harbin Electric Corporation ...
A worker works at a factory of Harbin Electric Machinery Company Ltd. of Harbin Electric Corporation in Harbin, northeast China's Heilongjiang Province, Sept. 3, 2022. (Xinhua/Wang Song)
BEIJING, Oct. 27 (Xinhua) -- China's industrial economy is showing more positive signs of recovery despite a profit decline in the first nine months of this year.
Major industrial firms, each with an annual business revenue of at least 20 million yuan (2.79 million U.S. dollars), saw their profits down 2.3 percent year on year in the first nine months to 6.24 trillion yuan, data from the National Bureau of Statistics showed Thursday.
In September, the profit decline of the major industrial firms narrowed by 6 percentage points from a month earlier, the data showed.
The combined revenues of industrial firms sustained relatively quick growth during the period, rising 8.2 percent year on year to 100.17 trillion yuan.
Highlighting the improvement in business profit structure, the bureau's senior statistician Zhu Hong noted that the performance of industrial firms was gaining recovery momentum as the country's pro-growth policies took effect.
A total of 19 out of 41 major industries saw growth in profits in the January-September period. Equipment manufacturing returned to growth with a 0.6 percent increase year on year, led by the electrical machinery sector, which saw its profits surge 25.3 percent.
Automobile manufacturing achieved profit growth of 47.4 percent year on year in September, boosted by smooth industrial and supply chains and production growth of the new energy vehicles, Zhu said.
Due partly to rising demands for electricity and slower growth in coal prices, the profits of electricity firms rose 11.4 percent in the January-September period, reversing the decline that had lasted for more than a year, Zhu noted.
The mining sector continued to witness soaring profits, driven by high prices in commodities, Zhu said.
Zhu also pointed out that the operation of private and small businesses kept improving, with their profits up 1.5 percent year on year during the period.
Thursday's data also showed that the total assets of industrial firms stood at 152.64 trillion yuan at the end of September, up 9.5 percent from a year earlier.
Despite the positive changes, Zhu still cautioned against challenges, including relatively high costs for businesses and a complex external environment.
To consolidate the recovery momentum of the industrial economy, more efforts should be put into shoring up the real economy, efficiently coordinating epidemic prevention and control with economic and social development, and advancing the implementation of pro-growth policies and measures, Zhu said. ■
Tags:
Reprint:Friends are welcome to share on the Internet, but please indicate the source of the article when reprinting it.“International Iterations news portal”。http://juandenovaisland.argoasecurityeu.com/news-71d099851.html
Related articles
Queen Camilla reveals she's seen the first season of Bridgerton
sportQueen Camilla has revealed she has seen the first season of Netflix hit Bridgerton. The royal, 76, t ...
【sport】
Read moreLegislation advances whole
sportThanks to the enactment and modification of several laws last year, China's system of people's congr ...
【sport】
Read moreChina's top anti
sport87 Chinese mid-level officials, including three minister-level “tigers,” were placed under inspectio ...
【sport】
Read more
Popular articles
- Judge blocks Biden administration from enforcing new gun sales background check rule in Texas
- Stone carvings found inside cave of China's Longmen Grottoes
- Domestic brands shine at 4th CICPE in S China's Hainan
- China brings opportunities rather than risks to world, expert says
- David Ortiz is humbled by being honored in New York again; this time for post
- China brings opportunities rather than risks to world, expert says
Latest articles
Nadal returns to Roland Garros to practice amid doubts over fitness and form
Consumption expo in Hainan expected to bolster growth
Xi Presents Order to Promote Military Officers to Rank of General
Forum highlights structural reforms
Inquiry slams UK authorities for failures that killed thousands in infected blood scandal
New hypersonic wind tunnel 'most advanced in world'
LINKS
- Xi Sends Congratulatory Letter to Forum on Global Human Rights Governance
- China's Communist Youth League Starts National Congress
- Fourth Volume of 'Xi Jinping: The Governance of China' Published in More Languages
- Xi Focus: Xi Urges Troops to Forge 'Great Wall of Steel' in Guarding Chinese Borders
- Xi Focus: Nation Inspired to Foster Modern Chinese Civilization
- Shanghai Nanjing Road Pedestrian Street was crowded with tourists on a rainy day
- Xinhua Headlines
- Citizens in Yinchang enjoyed outdoor skiing during the Spring Festival holiday
- Commerce minister refutes EU's accusation that China has 'overcapacity' in EV production
- Creations of Laurèl staged at China Fashion Week