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Industries realized 42.1 percent profit growth from January to May
POSTED: 10:24 a.m. EDT, June 29,2007

The information, published by the National Bureau of Statistics in China, shows that from January to May, national industrial enterprises, the enterprises with an annual prime operating revenue reaching over five million Yuan, realized a profit of 902.6 billion Yuan, up by 42.1 percent more than in the same period of last year. The industrial economic benefits composite index is 200.41, up 21.79 points higher than in the same period of last year. Among national industrial enterprises, state-owned and state-holding enterprises realized profits of 419.3 billion Yuan, up by 42.3 percent more than in the same period last year. Collective enterprises realized profits of 22.3 billion Yuan, up 24 percent. Joint-stock enterprises realized profits of 484.5 billion Yuan, up 39.5 percent. Hong Kong, Macao and Taiwan and foreign-funded enterprises realized profits of 241.9 billion Yuan, up 38.6 percent. Private enterprises realized profits of 137.9 billion Yuan, up 48.6 percent.

In thirty-nine major industry categories, the profits from the steel industry increased by 1.2 times of that attained in than the same period of last year; building materials industry grew by 70.1 percent; the chemical fiber industry grew 2.2 times higher; the chemical industry grew by 69.4 percent; and the power industry grew by 60.6 percent. The non-ferrous metal smelting and rolling processing industries grew by 29.8 percent; the coal industry had a growth of 43.1 percent; special equipment manufacturing grew by 65.3 percent; transportation equipment manufacturing grew by 60 percent; and electronic communication equipment manufacturing grew by 4.6 percent. The oil processing and cooking industry returned from a net loss of 19.9 billion Yuan in the same period last year, to a profit of 34.3 billion Yuan. The profits, from oil and gas extraction industries, dropped 18.3 percent. The total tax value of up-scale industrial enterprises reached 627.1 billion Yuan, up by 24.9 percent more than in the same period last year.

At the end of May, the net value of accounts receivable of up-scale industrial enterprises reached 3.4164 trillion Yuan, up by 18.8 percent more than in the same period last year. The capital from finished goods reached 1.5894 trillion Yuan, up by 20.1 percent more than during the same period last year.

From: xinhua
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