The total profits of industrial enterprises in China above the designated size reached 3,943.98 billion yuan between January and July this year—down by 15.5 per cent year on year (YoY) and a fall of 1.3 percentage points narrower than that between January and June, according to official statistics.
During the seven-month period in question, the profit of China manufacturing industry amounted to 2,769.42 billion yuan, marking a notable decrease of 18.4 percent when compared to the same period in the previous year.
State-holding enterprises saw a profit of 1,380.59 billion yuan, a YoY decrease of 20.3 per cent.
The profit of share-holding enterprises was 2,883.56 billion yuan during the seven-month period—down by 16.6 per cent YoY. Enterprises funded by foreign investors and investors from Hong Kong, Macao and Taiwan saw a total profit of 935.57 billion yuan down by 12.4 per cent YoY; private enterprises saw a profit of 1,022.66 billion yuan down by 10.7 per cent YoY.
The Chinese textile industry profit decreased by 20.3 per cent YoY in the January-July period.
According to an official press release, the revenue generated by industrial enterprises surpassing the designated size in China from January to July totaled 73.22 trillion yuan. This figure, while still substantial, registered a slight dip of 0.5 percent compared to the previous year revenue during the same period.
At the end of July, the assets of industrial enterprises above the designated size totaled 161.40 trillion yuan, a YoY increase of 6.5 per cent.
