China's Industrial Performance Improves

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Last updated at: (Beijing Time) Thursday, July 25, 2002

China's Industrial Performance Improves

China's industry as a whole continued to perform well in the first half of 2002, the National Bureau of Statistics (NBS) said on Wednesday.

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China's industry as a whole continued to perform well in the first half of 2002, the National Bureau of Statistics (NBS) said on Wednesday.

NBS figures show that during the January-June period, the composite index of industrial economic performance rose to 123.3, up 3.3 over the same period of 2001.

Sales volume of industrial enterprises totaled 4,850.3 billion yuan (586.5 billion US dollars) in the first half year, a year-on-year increase of 13.1 percent.

Total profits of the enterprises amounted to 227.8 billion yuan(27.5 billion dollars), 5.1 percent higher than the corresponding period last year. Profits of state-owned and state-holding enterprises were 106 billion yuan (12.8 billion dollars), down 11.2 percent year-on-year.

In the first half year, taxes collected from industrial enterprises amounted to 283.9 billion yuan (34.3 billion dollars),up 9 percent from the same period of 2001.

During the past six months, the three industries related to transport equipment manufacturing, tobacco, and coal scored 11.3 billion yuan (1.4 billion dollars) more profits over the same period last year. Profits for electronic and telecommunication equipment manufacturing hit 20.6 billion yuan (2.5 billion dollars), up 8.2 percent.

The profits of oil and natural gas industries decreased 17.4 billion yuan (2.2 billion dollars) from the same period last year,the biggest profit slide among all sectors.

According to the NBS, losses from unprofitable companies totaled 66.4 billion yuan (8 billion dollars), or 9.8 percent higher. State and state-controlled enterprises lost a total of 39.8 billion yuan (4.8 billion dollars).

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