Login

Reload

Remember me Forgot it?

Not a subscriber?

Click on the button below to create your account and get immediate access to Xinhua Silk Road Database.

Start a Free Trial

Subscribe

Belt & Road Weekly Subscription Form

Research Report

The full edition of the report is available at Xinhua Silk Road Database. You can click the “Table of Content” to have a general understanding of it.

Click on the button below to create your account and get immediate access to thousands of articles.

Start a Free Trial

Economy

HOME > Economy


China's industrial profits up 10.3 pct in 2018

January 28, 2019


Abstract : Profits of China's major industrial firms maintained steady growth last year, the National Bureau of Statistics (NBS) said Monday.

BEIJING, Jan. 28 (Xinhua) -- Profits of China's major industrial firms maintained steady growth last year, the National Bureau of Statistics (NBS) said Monday.

Combined profits at industrial firms with the annual revenue of more than 20 million yuan (about 2.96 million U.S. dollars) each reached 6.63514 trillion yuan last year, up 10.3 percent year on year.

The 2018 profit growth is lower than the 21-percent expansion for 2017, but still remained on a steady growth track, according to NBS statistician He Ping.

Profits fell 1.9 percent year on year last December, down further from a drop of 1.8 percent in November.

State-owned players saw profits up 12.6 percent year on year in 2018, compared with 45.1-percent growth in 2017, while private firms' profit growth accelerated from 11.7 percent in 2017 to 11.9 percent last year.

Profits in 32 of the 41 sectors surveyed rose compared with a year earlier.

The mining sector's profits expanded 40.1 percent year on year, with the petroleum and natural gas mining subsector posting a robust growth of 440 percent.

The manufacturing sector's earnings grew 8.7 percent year on year.

Among the nine sectors with shrinking profits, non-ferrous metals smelting and rolling decreased 9 percent in profits, while automobile manufacturing fell by 4.7 percent year on year.


Related Coverage

Focus

Think Tank

  • How Can China’s Economy Maintain Steady Growth at a...

    February 15, 2019

    China needs to keep expanding its interconnectivity with global markets, pro...

  • Will China be the next Japan or South Korea?

    February 12, 2019

    As the development phase changes, expanding domestic demand has been brought...

  • Is GDP an obsolete tool in an era of social well-bei...

    February 2, 2019

    A serious talk has to take place between scholars and international organiza...

  • Consumption quality of China’s middle-income popula...

    January 31, 2019

    Building and expanding China's consumer market will not only need to increas...

  • Ask Us A Question

    If you have any questions, please enter them in the box below.

    Reload

    Write to Us

    Do you want to be a contributor to Xinhua Silk Road and tell us your Belt & Road story? Send your articles to silkroadweekly@xinhua.org and share your stories with more people.

    Click on the button below to create your account and get imhttp://img.silkroad.news.cn/templates/silkroad/en2017te access to thousands of articles.

    Start a Free Trial