28 January 2020

Large industrial firms’ profit up 13.5% in Jan-Sept, NBS says

Large-scale industrial enterprises in China posted a combined net profit of 4.04 trillion yuan (US$664.06 billion) between January and September, up 13.5 percent over the same period last year and marking an increase of 0.7 percentage points over the growth registered in the first eight months of this year, the National Bureau of Statistics (NBS) said in a statement posted on its website Sunday. The large-scale industrial firms generated 4.12 trillion yuan revenue from their principal businesses during the nine-month period, up 5.3 percent from a year ago, while total profits from large-scale state-owned enterprises rose 9.4 percent to 1.11 trillion yuan. In September alone, industrial profit stood at 558.89 billion yuan, up 18.4 percent from a year earlier but down 5.8 points compared to the previous month, according to the statement.

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