In the January-August period this year, the aggregate gross profits of large and medium-sized industrial enterprises in China amounted to RMB 3.48639 trillion ($569.7 billion), increasing by 12.8 percent year on year, according to data released by China's National Bureau of Statistics (NBS) on September 27. In August alone, the aggregate gross profits of large and medium-sized industrial enterprises in China amounted to RMB 483.17 billion ($78.9 billion), increasing by 24.2 percent compared to August last year.
Of the 41 major industrial sectors in China, in the first eight months 25 sectors registered year-on-year increases in gross profit, 14 sectors witnessed year-on-year decreases in gross profit, one sector achieved profitability following the net loss recorded in the same period last year, while one sector witnessed a lower net loss on year-on-year basis.
In particular, in the January-August period of the current year the aggregate gross profit of the ferrous metal smelting and processing industry in China was RMB 63.16 billion ($10.3 billion), increasing by 69.4 percent year on year. Meanwhile, the aggregate gross profit of the ferrous metal mining industry in China was RMB 54.57 billion ($8.92 billion), decreasing by 4.2 percent year on year. The aggregate gross profit of the metal product manufacturing sector in China in the January-August period this year was RMB 96.19 billion ($15.7 billion), increasing by 18.4 percent year on year. In addition, in the first eight months of the current year total gross profits of the general equipment manufacturing sector in China rose by 12.3 percent year on year to RMB 162.63 billion ($26.6 billion), the total gross profits of China's automobile manufacturing sector amounted to RMB 309.95 billion ($50.6 billion), indicating a year-on-year increase of 20.4 percent, while the total gross profits of the railway, ship, aerospace and transportation machinery and equipment manufacturing sector increased by 2.2 percent year on year to RMB 44.36 billion ($7.25 billion).
