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Jan-Feb industrial profits return to normal
By Wang Yanlin |
March 26, 2010, Friday
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Online Edition
Online Edition
PROFIT in China's industrial companies more than doubled from a year earlier in the first two months of this year, indicating ample demand and a strong growth in manufacturing.
A low comparative base was the major contributor to the surge, and the profit rate has returned to the pre-crisis level, the National Bureau of Statistics said today.
Net earnings of China's industrial companies climbed 119.7 percent year on year to 486.7 billion yuan (US$71.3 billion) in the January-February period.
The sharp rise compared with an annualized increase of 7.8 percent in the first 11 months of last year, marking a turning point for China's recovery from the global financial crisis.
"Despite of a low comparative base, the figure still suggests strong demand, both domestic and overseas," said Li Maoyu, an analyst at Changjiang Securities Co. "It shows China's economy is well on track."
In a report released today along with the data, the bureau said the fast expansion of industrial output in the first two months this year was a result of China's massive stimulus package affecting the manufacturing sector.
A low comparative base was the major contributor to the surge, and the profit rate has returned to the pre-crisis level, the National Bureau of Statistics said today.
Net earnings of China's industrial companies climbed 119.7 percent year on year to 486.7 billion yuan (US$71.3 billion) in the January-February period.
The sharp rise compared with an annualized increase of 7.8 percent in the first 11 months of last year, marking a turning point for China's recovery from the global financial crisis.
"Despite of a low comparative base, the figure still suggests strong demand, both domestic and overseas," said Li Maoyu, an analyst at Changjiang Securities Co. "It shows China's economy is well on track."
In a report released today along with the data, the bureau said the fast expansion of industrial output in the first two months this year was a result of China's massive stimulus package affecting the manufacturing sector.
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