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National Bureau of Statistics: First Quarter Profit Declined by 3.3 Percent

China’s National Bureau of Statistics recently released its official numbers for the first quarter. The national level profit of industrial Enterprises Above a Designated Size (EADS, that is, companies whose primary business income is above RMB 20 million or around US$2.97 million) recorded a year-over-year 3.3 percent decline. State-owned enterprises suffered a profit decline of 13.4 percent; joint-stock companies declined by one percent; and foreign investment companies saw a profit decline of 7.9 percent, while privately-owned companies had a profit increase of seven percent. In the first quarter profit category, the mining industry declined year-over-year by 3.4 percent and the manufacturing industry declined by 4.2 percent. At the same time, at the national level, corporate debts and inventory both increased.

Source: Official Site of the National Bureau of Statistics, April 27, 2019
http://www.stats.gov.cn/tjsj/zxfb/201904/t20190426_1661900.html