Make me your Homepage
    left corner left corner
    China Daily Website

    Industrial sector's profit picture brightens

    Updated: 2013-08-27 23:46
    By Chen Jia ( China Daily)

    Net income of companies up 11.6% in July

    Industrial companies' net income jumped 11.6 percent year-on-year in July, almost double the pace of 6.3 percent in June, adding further evidence of economic stabilization in China, the National Bureau of Statistics said on Tuesday.

    Industrial companies with annual sales from their core business exceeding 20 million yuan ($3.2 million) achieved total profit of 3 trillion yuan from January to July, up 11.1 percent. The rate was unchanged from the first six months, the NBS said.

    Industrial sector's profit picture brightens

    A worker polishes stainless steel wire rods at a specialty steel plant in Dalian, Liaoning province. The National Bureau of Statistics said on Tuesday that industrial enterprises with annual sales exceeding 20 million yuan ($3.2 million) achieved total profit of 3 trillion yuan from January to July, up 11.1 percent year-on-year. LIU DEBIN / FOR CHINA DAILY

    But sales growth slowed in the first seven months to 11 percent, from 11.4 percent in the first half.

    “The pickup in industrial profit growth in July is another piece of good news," said Zhu Haibin, chief economist in China with JPMorgan Chase & Co.

    He cited other indicators for July, such as industrial output and exports, both of which improved from the first half as domestic demand firmed and fine-tuning by the government began to take effect.

    Vice-Minister of Finance Zhu Guangyao said on Tuesday that China will maintain a stable macroeconomic policy, and he said there's no need to launch any further stimulus, even though the domestic and external environment remains tough overall.

    The nation's ongoing economic structural adjustment is able to support growth, Zhu said.

    In July, industrial companies' profit increase was concentrated in four sectors: electricity and heating power production, communications equipment manufacturing, petroleum and nuclear fuel processing and vehicle production, according to He Ping, a senior NBS economist.

    The four sectors combined contributed 10.5 percentage points to the profit growth rate from principal business.

    “Enterprises' overall corporate profitability is still at a low level," said He. “The recovery in profits was concentrated in a few sectors, and production costs, especially for labor and raw materials, continue to increase."

    According to the NBS, profits from industrial companies' core business climbed 5.1 percent in the first seven months, slowing from the first-half pace of 7.2 percent and 11.4 percent for the first five months.

    State-owned industrial companies' profits grew 5.5 percent, while the net income of domestic private-sector companies increased 15.4 percent in July from a year earlier.

    The benchmark Shanghai Composite Index rose 0.3 percent to a two-week high of 2,103.57 points on Tuesday after the NBS report.

    A Reuters News consensus forecast based on 12 financial institutions' reports said that the official August manufacturing Purchasing Managers' Index, a gauge of factory activity, is expected to rise to a three-month high of 50.6 from 50.3 in July and 50.1 in June. The figure is due for release on Sept 1.

    HSBC Holdings Plc earlier reported a preliminary reading for its August PMI of 50.1, a four-month high.

    Sheng Laiyun, the NBS spokesman, said on Monday at a news conference that the stabilizing economy means the country can achieve its full-year target of 7.5 percent, as business confidence is improving.

    Wang Tao, chief economist in China at UBS AG, said that market sentiment on China has improved, as the rebound in economic activity has exceeded expectations and the government has announced policy measures to stabilize growth.

    “We think the pickup in growth reflected to some extent the delayed impact of strong credit growth earlier in the year, which helped to support infrastructure investment and property recovery, as well as restocking in some material sectors," Wang said.

    8.03K
     
    ...
    ...
    ...
    亚洲乱码中文字幕综合234| 日韩精品专区AV无码| 亚洲av无码成人黄网站在线观看| 无码精品第一页| 亚洲AV无码专区国产乱码电影| 亚洲中文字幕无码日韩| 久久精品无码一区二区无码 | 国产Av激情久久无码天堂| 中文精品99久久国产| 亚洲日韩中文字幕在线播放| 波多野结AV衣东京热无码专区| 中文字幕手机在线观看| а√在线中文网新版地址在线| 无码8090精品久久一区| 精品三级AV无码一区| 人妻少妇偷人精品无码| 久久无码AV一区二区三区| 中文字幕日本在线观看| 中文亚洲AV片不卡在线观看 | 久久精品中文字幕大胸| 国产精品无码不卡一区二区三区| 亚洲中文久久精品无码| 制服在线无码专区| 亚洲精品一级无码中文字幕 | 日本精品久久久久中文字幕| 精品无人区无码乱码毛片国产| 精品无码av一区二区三区| 人妻精品久久无码区| 免费无码中文字幕A级毛片| 无码人妻丰满熟妇精品区| 亚洲精品无码精品mV在线观看| 精品亚洲成在人线AV无码| 无码精品A∨在线观看免费| 国产成人无码区免费内射一片色欲| 日韩区欧美区中文字幕| 日本久久中文字幕| 中文无码一区二区不卡αv| 成人麻豆日韩在无码视频| 中文字幕无码第1页| 亚洲gv猛男gv无码男同短文| 日韩av无码中文字幕|