China Industrial Profits Went up in Q1

Resource from: CBCC Likes:2906

May 06,2010

Industrial profits in 24 regions* realized 690.8 billion yuan in the first quarter, increased 102.6 percent year-on-year, narrowed 21.1percentage points over first two months, which have picked up. Within 39 branches of industrial sectors, the profits of 38 industrial sectors increased year-on-year; that of 24 industrial sectors declined over first two month, and that of 14 sectors increased while one sector narrowed. Of the total, the profits of iron and steel industry, electric power industry, non-ferrous metal smelting and rolling processing industry, chemical fiber industry, oil exploitation industry, electronic industry, transportation equipment manufacturing and chemical industry jumped to 33.8, 15.4, 9.7, 8.9, 2.9, 2.3, 2.1 and 1.1 times, while the profit of tobacco manufacturing declined to 10.6 percent year-on-year. The main business revenue for industry in 24 regions reached 11,579.5billion yuan, increased 39.6 percent year-on-year, reduced 1.5percentage points over first two months. By the end of March, the total volume of net accounts receivable for industry in 24 regions hit 4,045.3 billion yuan, climbed 26.1 percent year-on-year, or 0.5 percentage points reduced over first two months. The finished goods funds accounted for 1,681.6 billion yuan, went up7.1 percent year-on-year, jumped 1.5 percentage points over first two months. *refers to the industrial enterprises above designated size in 24provinces except Inner Mongolia, Hunan, Guangdong, Hainan, Chongqing,Yunnan and Tibet, which main business revenue accounted for 82 percent, and 84 percent of total profits.

(CBCC)

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