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Profits of the Chinese industrial enterprises have maximally grown over the last 3 years

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Profits of the Chinese industrial enterprises have maximally grown over the last 3 years

Profits of the Chinese industrial enterprises have maximally grown over the last 3 years
September 27
14:30 2016

The profit of the industrial sector of the Chinese People’s Republic was increasing with the unprecedented speed in August. These rates reinforce the general view that the Chinese economy, which is the second largest in the world, is being stabilized.

According to the information from the National Bureau of Statistics, in August the profits of Chinese industrial enterprises were increased by 19.5 percent in an annual term to a volume of 534.8 billion yuan. This is equivalent to $ 80 billion, which has been the highest level since August 2013.

As reported by the Bureau, metallurgy, oil refining and automotive industries have had a great impact on the growth. The information includes the results of the largest companies (with annual revenues of more than 20 million yuan).

The Chinese economy grew by 6.9 percent in 2015, which has become the smallest increase over 25 years in terms of an unnerved global demand. Recently, the Chinese economy has shown signs of stabilization at the expense of the public expenditure in the amount of billions of dollars, as well as through the revival of the real estate market of the largest cities. In August, the industrial production in China suddenly increased.

Nevertheless, the results of the sector are uneven.

Also, in August the profits of the manufacturing sector increased by 14.1 percent in annual terms. Meanwhile, the profits of the mining companies have dropped by 70.9 percent.

In general, the industrial companies showed some positive changes in August. This means that the measures taken by the government continue to bear fruit. However, NBS experts report that traditional industries still have a lot of problems and difficulties. In general, this applies to those businesses that have faced the excess of the capacity.

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