Beijing's major industrial enterprises realized 32.5 billion yuan (4.2 billion U.S. dollars) in profits in the first 11 months of 2006, a growth of 15.9 percent over the year-earlier level.

Major industrial enterprises each garnered sales income of at least 5 million yuan (641,026 U.S. dollars) a year.

According to the municipal bureau of statistics, the growth was accreditable to a slowed decline in profit making by the petrochemical sector and a rapid growth in profits for electric and electronics sector.

Between January and November 2006, oil processing, coking and nuclear fuel processing enterprises raked in 390 million yuan (50 million U.S. dollars) in profits, down 14.5 percent. But the decline rate was 43.5 percent lower than the Jan.-Oct. period.

Over the 11 months, manufacturers of telecom equipment, computer and other electronics generated 5.76 billion yuan (738 million U.S. dollars) in profits, up 44.1 percent, while electric and thermal power enterprises realized 7.1 billion yuan (910 million U.S. dollars) in profits, up 37.8 percent.

Source: Xinhua