Beijing, December 27 (QNA) – China’s major industrial firms reported stable revenue growth in the first 11 months of the year.
The combined revenues of industrial firms with annual main business revenue of at least 20 million yuan (about USD 2.88 million).
Their profits in total stood at 7.72 trillion yuan in the period.
“In November, industrial production slowed down, and the pressure on business operations increased due to factors such as the resurgence of the epidemic and the weak demand, but the profit structure continued to improve,” said senior NBS statistician Zhu Hong.
A total of 20 out of 41 major industries saw growth in profits in the period, up from 19 in the first 10 months.
The oil and gas exploitation sector saw profits jump 1.13 times from the same period last year, while the electric and heat power production and supply and the coal mining and washing sectors reported profit increases of 47.2 percent and 47 percent, respectively.
The combined revenues of industrial firms rose 6.7 percent year on year in the January-November period to 123.96 trillion yuan, the National Bureau of Statistics (NBS) said. (QNA)
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