Related News
China鈥檚 industrial profit growth accelerates
Online Edition
PROFIT growth in china’s industrial sector accelerated last month due to rising prices and a low base last year.
The industrial profits in November rose 14.5 percent year-on-year, up from 9.8 percent growth in October, the National Bureau of Statistics said today.
The data covers large enterprises with annual revenues of more than 20 million yuan from their main operations.
For the first 11 months this year, combined profits rose 9.4 percent from the same period last year, 0.8 percentage points faster than the combined profits in the first 10 months this year.
“The improvement was mainly due to rising prices, as PPI inflation jumped strongly to 3.3 percent in November, and to a low base given consistent negative profit growth throughout the whole 2015,” Nomura Securities analysts wrote in a note.
The analysts said the factors will continue to play a role this month to lift industrial profit growth, but details in November’s data revealed unbalanced development between state-owned sector and the private one.
Official data showed that profit growth at state-owned enterprises rose by 3.4 percentage points to 8.2 percent in the first 11 months this year, but that of private enterprises fell by another 0.7 percentage points to 5.9 percent.
“We are conservative about the longer-term profit outlook, as we do not see signs of a recovery in aggregate demand given a cooling property market and high corporate leverage,” the Nomura note said.
He Ping, an NBS official, in a statement said inventory and costs have dropped in November as a good sign for future growth.
But uncertainties still remain in improving the efficiency in the industrial sector as profit growth relies too heavily on prices increases in the oil processing and steel industries.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 娌狪CP璇侊細娌狪CP澶05050403鍙-1
- |
- 浜掕仈缃戞柊闂讳俊鎭湇鍔¤鍙瘉锛31120180004
- |
- 缃戠粶瑙嗗惉璁稿彲璇侊細0909346
- |
- 骞挎挱鐢佃鑺傜洰鍒朵綔璁稿彲璇侊細娌瓧绗354鍙
- |
- 澧炲肩數淇′笟鍔＄粡钀ヨ鍙瘉锛氭勃B2-20120012
Copyright 漏 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
