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China sees 2.2% decline in industrial profit in Apr

May. 28, 2012 (China Knowledge) - The combined profit of industrial enterprises with at least RMB 20 million revenues in China fell 2.2% YoY to RMB 407.6 billion in April this year, according to statistics released by the National Bureau of Statistics.

In the first four months, the industrial profit amounted to RMB 1.45 trillion, down 1.6% YoY.

During the period from January to April, the profits of state-owned enterprises dropped 9.9% YoY to RMB 457.8 billion, while profits of joint-stock companies rose 0.6% YoY to RMB 838.5 billion during the period. Foreign-funded enterprises reaped RMB 340.6 billion in profits in the period, 13.2% less than that in the same period of last year. Privately-owned companies saw their profits surge 20.9% YoY to RMB 425.7 billion.
The combined core business revenue of these industrial enterprises reached RMB 27.04 trillion in the first four months, reflecting a YoY growth of 12.7%.

Twenty-seven of the 41 industrial sectors saw increase in profits during the period, and 11 industrial sectors saw YoY declines in profit.

The oil and gas industry saw profit rise 8.2% YoY. The agricultural and sideline foodstuffs processing industry experienced an 18.7% increase in profit, and the heat and power producing and supplying industry recorded a 20.1% growth in profit. The profit of the auto manufacturing sector grew 8.7%.The profit of the chemical raw material and chemical product industry fell 24.4% YoY. There was a YoY decline of 57% in profit of the ferrous metal smelting and processing industry and 2.4% decline in the profit of the general-purpose equipment industry and 17% fall in the computer, telecommunication and electronics industry.
The oil processing, coking and nuclear fuel processing industry swung to loss in the period.

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