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China's industrial profit up 25.4% in 2011

Feb. 6, 2012 (China Knowledge) - The combined profit of these industrial enterprises with at least RMB 20 million revenues surged 25.4% year on year to RMB 5.45 trillion last year, according to statistics released by the National Bureau of Statistics.
In December alone, the industrial profit grew 31.5% year on year to RMB 790.7 billion, including RMB 144.6 billion realized by state-owned enterprises.

In 2011, the profits of state-owned enterprises grew 15% year on year to RMB 1.5 trillion, while profits of joint-stock companies jumped 31.2% year on year to RMB 3.17 trillion. Foreign-funded enterprises reaped RMB 1.40 trillion in profits in the period, 10.6% more than that in the same period of last year. Privately-owned companies saw their profits surge 46% year on year to RMB 1.66 trillion.

The combined core business revenue of these industrial enterprises reached RMB 84.33 trillion last year, reflecting a year-on-year growth of 27.2%.

Thirty-seven out of the thirty-nine industrial sectors saw increase in profits during the period, and only two industrial sectors saw year-on-year decline in profit.

The oil and gas industry saw profit rise 44.8% year on year, and the ferrous metal smelting and processing industry saw profit rise 53%. The profit of the chemical fiber industry jumped 1.5% during the period, and that of the chemical raw material and chemical product industry surged 32.1% year on year. There was a year-on-year growth of 51.3% in profit in the nonferrous metal smelting and processing industry, 17.3% increase in the transportation equipment sector and an 8.7% increase in the telecom equipment, computer and electronic industry.

However, the oil processing, coking and nuclear fuel processing industry saw profit decline 92.8% year on year, and the heat and power supplying industry saw an 11% decrease in profit.

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