Wednesday, 02 Dec 2009
Xinhua reported that China industrial profit in 22 provinces and regions across the country in January to October declined by 3.4%YoY but the rate of decline was slowing.

A statement posted on the website of the National Bureau of Statistics said industrial profits reached CNY 1.79 trillion but the rate of decline was 5.7 percentage points lower than that for the first nine months.

According to the report, main business revenue in the 22 provinces and regions was CNY 32.48 trillion for the same period up by 5%YoY and 1.6 percentage points higher than in the first nine months.

From January to October, industrial profits were up for manufacturers of rubber products by 61%, chemical fibres by143.8% and transport equipment by 33.7%. Manufacturing profits also rose 28.4% in the food sector19.1% in pharmaceuticals and 24.2% in plastics. Meanwhile, profits were down for oil production by 65.5%, steel making by 53.7% and electronics by 23.9%.

(Sourced from Xinhua)