Skip to content

China News: Large Scale Industrial Enterprises Suffered Profit Decline in October

China News recently reported that, according to the numbers that the National Bureau of Statistics just released, the total profit of all large scale industrial enterprises suffered a year-over-year decline of 4.6 percent. The same decline that was reported for September was only 0.1 percent. Also for October (year-over-year), these enterprises reported a debt increase of 5.6 percent and an inventory level increase of 4.5 percent. For the period of January to October, key industrial sectors that suffered declines were coal mining (62.1 percent), oil and natural gas (68.6 percent), non-metallic mineral products (8.2 percent), ferrous metal smelting (68.3 percent), non-ferrous metal smelting (4.8 percent), special equipment manufacturing (3.4 percent), and automobile manufacturing (3.1 percent). During the period of January to October, among all large scale industrial enterprises, the state-owned category saw the largest decline in profits (25 percent), and only the foreign-investment-owned category and the domestic privately-owned category saw profit growth (0.3 percent and 6.2 percent, respectively). 
Source: China News, November 27, 2015