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China's Industrial Giants Soar: Profits Surge in First 8 Months of the Year - News Directory 3

China’s Industrial Giants Soar: Profits Surge in First 8 Months of the Year

September 28, 2024 Catherine Williams Business
News Context
At a glance
  • Xinhua News Agency, Beijing, September 27 (Reporter Han Jianuo Panjie) Data released by the National Bureau of Statistics on the 27th showed that the profit of industrial enterprises...
  • Yu Weining, a statistician at the Industrial Department of the National Bureau of Statistics, said that due to factors such as insufficient market demand and the greater impact...
  • Industrial enterprise profits and operating income continued to grow.
Original source: m.ce.cn

China’s Industrial Enterprises Above Designated Size See Continued Profit Growth

2024-09-28 07:42
Source: Workers Daily

Xinhua News Agency, Beijing, September 27 (Reporter Han Jianuo Panjie) Data released by the National Bureau of Statistics on the 27th showed that the profit of industrial enterprises above a designated size in the country continued to grow from January to August, represented by high-tech manufacturing.

Yu Weining, a statistician at the Industrial Department of the National Bureau of Statistics, said that due to factors such as insufficient market demand and the greater impact of natural disasters such as high temperatures, heavy rains, and floods on some areas, together with the fact that the base number for the one period in August was significantly higher than that in July, the growth rate of profits of industrial enterprises above a designated size had slowed down, but it was still continuing the growth trend since the beginning of the year, and continued the high quality development of the industrial economy to move forward steadily.

Industrial enterprise profits and operating income continued to grow. From January to August, among the 41 major industrial industries, 29 industries saw profits increase year on year, accounting for more than 70% of the growth rate; the operating income of industrial enterprises above the designated size increased by 2.4% year-on-year, maintaining stable growth.

(Editor: Guo Wenpei)

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