Chinese industrial firms saw net profits soar 36.7 percent
year-on-year in the first 11 months of 2007, driven by the nation's
double-digit economic growth and strong consumer spending.
Combined profits at industrial companies with annual sales of at
least five million yuan reached 2.295 trillion yuan (314 billion US
dollars) in the January-November period, the National Bureau of
Statistics said on Thursday.
Total sales of the companies rose 27.6 percent to 35.452
trillion yuan (4.85 trillion US dollars).
The state-owned companies earned 966.2 billion yuan in profits
during the period, up 29.6 percent from the previous year.
Profits at overseas-funded firms, including those invested by
Hong Kong, Macao and Taiwan business people, jumped 34.3 percent to
612.6 billion yuan. Private businesses profit surged 50.9 percent
to 400 billion yuan.
Transport vehicle manufacturing sector profits climbed 68.7
percent, and those with the steel, construction materials and power
generation were up 47.2 percent, 63.1 percent and 39 percent,
The petroleum processing and coking industry earned 23 billion
yuan in profits during the period, compared with 41.7 billion yuan
in losses during the same period last year.
(Xinhua News Agency December 27, 2007)