Profitable firms single out costs
Source: Xinhua |
November 15, 2010, Monday
|
Print Edition
Print Edition
CHINESE enterprises improved their profitability in the first half of this year, compared with the past two years, but rising costs were a major challenge, a survey released on Saturday showed.
The survey by China Entrepreneurs Survey System found that 67.9 percent of Chinese enterprises made a profit in the first six months, 16.5 percentage points higher than the figure for last year and 5 percentage points above 2008's figure.
Meanwhile, 17.3 percent of Chinese firms broke even while 14.8 percent reported losses, the survey said.
The survey indicated business conditions were gradually recovering to levels before the global financial crisis due to healthy order books and normalized inventory levels.
The survey found mining, construction, transport, storage, computer services, software, hotels and catering and telecommunication equipment manufacturing enjoyed good profitability.
However, rising costs of labor and raw materials were singled out by most firms as the biggest challenge.
A lack of skills, the heavy burden of tax and social security, and financial strains were other problems.
The survey by China Entrepreneurs Survey System found that 67.9 percent of Chinese enterprises made a profit in the first six months, 16.5 percentage points higher than the figure for last year and 5 percentage points above 2008's figure.
Meanwhile, 17.3 percent of Chinese firms broke even while 14.8 percent reported losses, the survey said.
The survey indicated business conditions were gradually recovering to levels before the global financial crisis due to healthy order books and normalized inventory levels.
The survey found mining, construction, transport, storage, computer services, software, hotels and catering and telecommunication equipment manufacturing enjoyed good profitability.
However, rising costs of labor and raw materials were singled out by most firms as the biggest challenge.
A lack of skills, the heavy burden of tax and social security, and financial strains were other problems.
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