Related News
Industrial profits grow as recovery accelerates
By Wang Yanlin |
December 28, 2009, Monday
|
Online Edition
Online Edition
PROFIT in China's industrial companies in the first 11 months expanded for the first time in a year, consolidating the recovery in the world's third-largest economy.
Net earnings of Chinese manufacturers rose 7.8 percent from a year earlier to 2.58 trillion yuan (US$377.7 billion) through November, the National Bureau of Statistics said today.
The rise followed a decline of 3.4 percent in the January-October period and contrasted sharply with a plunge of 37.3 percent in the first two months when China's economy was hit by the global financial crisis.
"The recovery in industrial profit is faster and stronger than our expectation," said Li Maoyu, an analyst at Changjiang Securities Co. "The power shortage seems to have limited impact on industry. With better conditions in the overall economy, we are optimistic the growth will continue."
In an interview last month, Li forecast it may take longer for profit to grow because China's energy firms have reduced gas supplies to industry after heavy snowfalls hit North China in November, instead meeting demand from household users.
The advance was led by private manufacturers whose profit jumped 17.4 percent year on year to 684.9 billion yuan during the period. Foreign-invested companies and those from Hong Kong, Macau and Taiwan reported their earnings increased 16.9 percent to 751.1 billion yuan.
Net earnings of Chinese manufacturers rose 7.8 percent from a year earlier to 2.58 trillion yuan (US$377.7 billion) through November, the National Bureau of Statistics said today.
The rise followed a decline of 3.4 percent in the January-October period and contrasted sharply with a plunge of 37.3 percent in the first two months when China's economy was hit by the global financial crisis.
"The recovery in industrial profit is faster and stronger than our expectation," said Li Maoyu, an analyst at Changjiang Securities Co. "The power shortage seems to have limited impact on industry. With better conditions in the overall economy, we are optimistic the growth will continue."
In an interview last month, Li forecast it may take longer for profit to grow because China's energy firms have reduced gas supplies to industry after heavy snowfalls hit North China in November, instead meeting demand from household users.
The advance was led by private manufacturers whose profit jumped 17.4 percent year on year to 684.9 billion yuan during the period. Foreign-invested companies and those from Hong Kong, Macau and Taiwan reported their earnings increased 16.9 percent to 751.1 billion yuan.
- 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.
