Chinese chemical, electronics manufacturers earn more profits

The State-owned Assets Supervision and Administration Commission of China's State Council announced Thursday that 52 state-owned chemical manufacturers and 47 state-owned electronics enterprises saw rapid growth in profit gaining in the first ten months this year.

The commission statistics showed that from January to October this year, the chemical manufacturers gained 4.2 billion yuan (506million US dollars) in profit, an increase of 74.4 percent from a year earlier; the electronics manufacturers gained 7.95 billion yuan, a rise of 39.6 percent.

In the first ten months, the 52 chemical producers reported a total industrial output value of 104.71 billion yuan, up 33.5 percent year on year. The income of their primary business was valued at 111.47 billion yuan, increasing by 36.7 percent.

Meanwhile, the 47 electronic producers reported 287.14 billion yuan in industrial output value, up 14.8 percent, and the income of their primary business was valued at 297.08 billion yuan, increasing by 13.2 percent.

Mandated by the State Council, the commission controls and supervises 187 large state-owned companies.

Source: Xinhua