China's Major Textile, Chemical Companies See Surging Profits

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Last updated at: (Beijing Time) Sunday, August 31, 2003

China's Major Textile, Chemical Companies See Surging Profits

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The profits of China's major state-owned textile and chemical enterprises jumped 19.5 percent and 81.8 percent respectively in the first seven months of the year, according to the State-owned Assets Supervision and Administration Commission.

The 45 major textile enterprises realized profits totaling 1.41billion yuan (170 million US dollars) from January to July, a sharp contrast to last year's drop of 11.1 percent.

The 60 major chemical enterprises gained 1.93 billion yuan (233million dollars) in profits and their total output value increased14.1 percent to 60.46 billion yuan (7.3 billion dollars).

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