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Industrial Sector Sees Soaring Profits in First Eight Months
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China's industrial firms scored 1.1327 trillion yuan (US$143 billion) of profits in the first eight months, up 29.1 percent from a year earlier, according to the National Bureau of Statistics (NBS).

Profits of state-owned enterprises rose 19.7 percent to 508.6 billion yuan, while collective and foreign-invested enterprises scored 33.9 billion and 313.6 billion yuan respectively.

Profits of private enterprises hit 167.2 billion yuan, up 53.1 percent from a year earlier.

The booming growth was primarily driven by soaring profits in sectors such as non-ferrous metals, oil and gas, and transport equipment, according to NBS.

Non-ferrous metal firms saw their profits more than double from the same period last year, profits of transport equipment makers surged 53 percent, and profits of oil and gas producers jumped 40.2 percent.

(Xinhua News Agency September 23, 2006)

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