Chinese industrial companies’ profits fell 2.1% on year in Jan – Aug, manufacturing sector’s profits slid 13.4%
DATA MACRO
Chinese industrial companies’ profits fell 2.1% on year in Jan – Aug, manufacturing sector’s profits slid 13.4%
DATA MACRO

Chinese industrial companies’ profits fell 2.1% on year in Jan – Aug, manufacturing sector’s profits slid 13.4%

 

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Chinese industrial companies’ profits reached 5.5 trillion yuan in the period of Jan – Aug, falling by 2.1% from a year earlier, according to the National Bureau of Statistics, compared to the 1.1% drop during the first seven months of the year.

Industrial companies’ revenue reached 87.9 trillion yuan in the first eight months, rising 8.4% from a year earlier, compared to 8.8% growth for the period of Jan – Jul, showed the data.

In breakdown, mining industry’s profit reached 1.12 trillion yuan in Jan – Aug, rising 88.1% from a year earlier; manufacturing sector’s profits reached 4.08 trillion yuan, sliding 13.4% from a year ago; while the utilities sector’s profits reached 323 billion yuan, falling 4.9% year over year, according to the NBS.