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Dave Steadman
The SSO defines large industrial businesses as those with yearly revenues of more above 20 million yuan ($2.82 million).
Between January and March, state-owned businesses' profits decreased by 2.6% while those of private businesses increased by 5.8%.
Chinese producers of telecommunication, computer, and other electronic equipment saw a 1.8-fold increase in profits. Other industries that saw growth were oil and gas (up 3.8%), non-ferrous metallurgy (up 57.2%), automobiles (up 47.5%), and power generation (up 47.5%).
Concurrently, the profit margin for companies in the coal industry dropped by 33.5%, while chemical makers saw a 3.5% decline.
Out of 41 industries in the PRC, 28 reported higher overall profits in the first quarter.
source: globaltimes.cn
Between January and March, state-owned businesses' profits decreased by 2.6% while those of private businesses increased by 5.8%.
Chinese producers of telecommunication, computer, and other electronic equipment saw a 1.8-fold increase in profits. Other industries that saw growth were oil and gas (up 3.8%), non-ferrous metallurgy (up 57.2%), automobiles (up 47.5%), and power generation (up 47.5%).
Concurrently, the profit margin for companies in the coal industry dropped by 33.5%, while chemical makers saw a 3.5% decline.
Out of 41 industries in the PRC, 28 reported higher overall profits in the first quarter.
source: globaltimes.cn
