The growth of profits of China’s industrial enterprises slowed in June

The growth of profits of China’s industrial enterprises slowed in June

Moscow, July 27 – "Вести.Экономика". The profits of China’s industrial enterprises slowed down in June compared with the previous month, as factory production slowed as the trade conflict with the US escalated and Beijing’s ongoing campaign to fight debts and pollution. This is reported by Reuters.

The growth of profits of China's industrial enterprises slowed in June

Photo: EPA / WAN SC

The profit of China’s industrial enterprises in June increased by 20% yoy to 658.29 billion yuan ($ 96.7 billion), according to the State Statistical Office of the country. A month earlier, profit growth was registered at 21.1%.

In the first half of the year, the profit of industrial enterprises increased by 17.2% compared to the same period last year to 3.39 trillion yuan. In January-May, the profit increased by 16.5%.

The steel industry, construction materials and the oil sector were key drivers of profit growth in the first half of the year. However, profit growth in the textile industry, the sphere of smelting and processing of non-ferrous metals, and the production of telecommunications and electronic equipment in the same period slowed year-on-year.

Data covers enterprises with annual sales of at least 20 million yuan.

The State Statistical Office of the People’s Republic of China noted that the price increase softened supported the company’s profits, despite the fact that industrial production slowed in June.

As reported "Вести.Экономика", the rise in producer prices in China accelerated in June to a maximum in six months against the background of high commodity prices.

According to the State Statistical Office of China, producer prices in June rose by 4.7% in annual terms.

However, the rebound in producer prices is unlikely to be sustainable, as the impetus for production is weakened by the uncertainty of global demand and the slowdown in lending growth in China. It is expected that the producer price index will drop to 3.2% this year from 6.3% last year.

Moscow, July 27 – "Вести.Экономика". The profits of China’s industrial enterprises slowed down in June compared with the previous month, as factory production slowed as the trade conflict with the US escalated and Beijing’s ongoing campaign to fight debts and pollution. This is reported by Reuters.

The growth of profits of China's industrial enterprises slowed in JunePhoto: EPA / WAN SC

The profit of China’s industrial enterprises in June increased by 20% yoy to 658.29 billion yuan ($ 96.7 billion), according to the State Statistical Office of the country. A month earlier, profit growth was registered at 21.1%.

In the first half of the year, the profit of industrial enterprises increased by 17.2% compared to the same period last year to 3.39 trillion yuan. In January-May, the profit increased by 16.5%.

The steel industry, construction materials and the oil sector were key drivers of profit growth in the first half of the year. However, profit growth in the textile industry, the sphere of smelting and processing of non-ferrous metals, and the production of telecommunications and electronic equipment in the same period slowed year-on-year.

Data covers enterprises with annual sales of at least 20 million yuan.

The State Statistical Office of the People’s Republic of China noted that the price increase softened supported the company’s profits, despite the fact that industrial production slowed in June.

As reported "Вести.Экономика", the rise in producer prices in China accelerated in June to a maximum in six months against the background of high commodity prices.

According to the State Statistical Office of China, producer prices in June rose by 4.7% in annual terms.

Moscow, July 27 – "Вести.Экономика". The profits of China’s industrial enterprises slowed down in June compared with the previous month, as factory production slowed as the trade conflict with the US escalated and Beijing’s ongoing campaign to fight debts and pollution. This is reported by Reuters.

The growth of profits of China's industrial enterprises slowed in JunePhoto: EPA / WAN SC

The profit of China’s industrial enterprises in June increased by 20% yoy to 658.29 billion yuan ($ 96.7 billion), according to the State Statistical Office of the country. A month earlier, profit growth was registered at 21.1%.

In the first half of the year, the profit of industrial enterprises increased by 17.2% compared to the same period last year to 3.39 trillion yuan. In January-May, the profit increased by 16.5%.

The steel industry, construction materials and the oil sector were key drivers of profit growth in the first half of the year. However, profit growth in the textile industry, the sphere of smelting and processing of non-ferrous metals, and the production of telecommunications and electronic equipment in the same period slowed year-on-year.

The data cover enterprises with annual sales of at least 20 million yuan.

The State Statistical Office of the People’s Republic of China noted that the price increase softened supported the company’s profits, despite the fact that industrial production slowed in June.

As reported "Вести.Экономика", the rise in producer prices in China accelerated in June to a maximum in six months against the background of high commodity prices.

According to the State Statistical Office of China, producer prices in June rose by 4.7% in annual terms.

However, the rebound in producer prices is unlikely to be sustainable, as the impetus for production is weakened by the uncertainty of global demand and the slowdown in lending growth in China. It is expected that the producer price index will drop to 3.2% this year from 6.3% last year.

Moscow, July 27 – "Вести.Экономика". The profits of China’s industrial enterprises slowed down in June compared with the previous month, as factory production slowed as the trade conflict with the US escalated and Beijing’s ongoing campaign to fight debts and pollution. This is reported by Reuters.

The growth of profits of China's industrial enterprises slowed in JunePhoto: EPA / WAN SC

The profit of China’s industrial enterprises in June increased by 20% yoy to 658.29 billion yuan ($ 96.7 billion), according to the State Statistical Office of the country. A month earlier, profit growth was registered at 21.1%.

In the first half of the year, the profit of industrial enterprises increased by 17.2% compared to the same period last year to 3.39 trillion yuan. In January-May, the profit increased by 16.5%.

The steel industry, construction materials and the oil sector were key drivers of profit growth in the first half of the year. However, profit growth in the textile industry, the sphere of smelting and processing of non-ferrous metals, and the production of telecommunications and electronic equipment in the same period slowed year-on-year.

Data covers enterprises with annual sales of at least 20 million yuan.

The State Statistical Office of the People’s Republic of China noted that the price increase softened supported the company’s profits, despite the fact that industrial production slowed in June.

As reported "Вести.Экономика", the rise in producer prices in China accelerated in June to a maximum in six months against the background of high commodity prices.

According to the State Statistical Office of China, producer prices in June rose by 4.7% in annual terms.

However, the rebound in producer prices is unlikely to be sustainable, as the impetus for production is weakened by the uncertainty of global demand and the slowdown in lending growth in China. It is expected that the producer price index will drop to 3.2% this year from 6.3% last year.

Analysts say that the growth of profits of industrial enterprises may further slow down in the second half of the year, as trade problems increase, putting additional pressure on the growth of the second largest economy in the world.