Industrial profits in China up 5.4% year-on-year in November
The profits of the main Chinese industrial companies increased 5.4% year-on-year in November due to the growth of sales and industrial production.
Data published today by the National Statistical Office (ONE) show that earnings in the eleventh month of 2019 were 593.9 billion yuan (84.625 million dollars, 76.347 million euros).
This increase in November represents a strong rebound against the 9.9% year-on-year fall recorded in October.
For the compilation of this indicator, the ONE only takes into account those industrial companies with annual revenues exceeding 20 million yuan (2.86 million dollars or 2.57 million euros).
However, the ONE focuses its analysis on the accumulated in the first eleven months of the year, in which the profit figure stood at 5.61 trillion yuan (80.183 million dollars or 72.153 million euros), a fall of 2.1% year-on-year, but an improvement of 0.8 percentage points compared to the figure of the previous month.
Of the 41 sectors surveyed for the elaboration of this accumulated from January to November, 30 registered a growth in its benefits, such as mining of ferruginous metals, other activities related to mining or furniture making.
Among the remaining eleven, which earned less than in the previous months, the losses of the ferruginous metal rolling industry, chemical fiber manufacturing plants or automobile manufacturing stand out.
The ONE Zhu Hong statistician stressed that the best performing companies in this period were those dedicated to food manufacturing and the paper industry.
