China's industrial firms reported 334.2 billion yuan (US$40.4 billion) in profits in the first four months this year, up 45.7 percent from a year earlier, according to a monthly report released by the National Bureau of Statistics (NBS).

The NBS said that 38 out of the country's 39 major categories of industrial sectors recorded growth in profits on a yearly basis.

According to the report, the ferrous metal mining sector registered a yearly growth rate of 698 percent, non-metal mineral products 220 percent, and ferrous metal smelting 129 percent.

China's industrial firms generated a combined sales volume of 5.3202 trillion yuan (US$643.3 billion) from January to April, up 34 percent year-on-year.

Factory prices of industrial goods up 5% in April.

Manufacturer prices of China's industrial goods increased by 5 percent during April year-on-year due to hikes in raw materials and fuel, the bureau said.

The price fluctuation is also 1.1 percent over that of March, according to a monthly report issued by the bureau.

Manufacturer prices of capital goods and consumer goods are on the rise, including a 6.2 percent increase in that of capital goods and 1.8 percent growth in that of consumer goods.

Steel products trading remains brisk despite the Chinese central government's bids to cool down the overheating economy by curbing investment in such selected sectors as real estate.

Prices of large rolled steel rose 27.9 percent year-on-year, while prices of some steel products, especially those for construction projects, began to drop.

The purchase prices of raw materials, fuel and power were up 10. 5 percent in April over the same period of 2003 and up one percentage point over March, according to the report.
 
(Xinhua News Agency May 26, 2004)