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Profits of designated Chinese industrial firms grew 8.5% in the first quarter of 2022

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The total profit of Chinese industrial enterprises, which exceeds a certain amount, amounted to 1.955.57 billion yuan from January to March, an increase over the same period last year by 8.5 percent. Among the industrial enterprises that exceed a certain size, state-owned holding companies earned total profits of 706.85 billion yuan over the same period, up 19.5 percent over the year.

During the same period, Chinese joint-stock companies earned total profits of 1439.63 billion yuan, an increase of 14.4 percent; the total profits of foreign-invested enterprises and enterprises invested by Hong Kong, Macao and Taiwan reached 470.75 billion yuan, down 7.6 percent; and the total profit of private enterprises amounted to 533.15 billion yuan, an increase of 3.2 percent.

The total profit of Chinese industrial enterprises, which exceeds a certain amount, amounted to 1.955.57 billion yuan from January to March, an increase over the same period last year by 8.5 percent. Among the industrial enterprises that exceed a certain size, state-owned holding companies earned total profits of 706.85 billion yuan over the same period, up 19.5 percent over the year.

From January to March, the country’s total manufacturing revenue was 1473.81 billion yuan, down 2.1 percent, according to official figures.

Among the 41 major industries, total profits in 24 industries increased over the same period last year, in 15 industries declined, one industry reduced losses, and one industry was unchanged.

Profits of the chemical raw materials and chemical products industry increased by 18.4% in the first quarter of this year, and of the textile industry – by 14%.

Fiber2Fashion News Desk (DS)



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