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Anhui's Industrial Profits up 11.5% in Jan-May

source:www.cnanhui.org release date:2019/07/03 hits:27

Anhui province posted an 11.5 percent year-on-year increase in industrial profits during the Jan-May period, ranking fifth in China and outperforming five other provinces in Central China, data from Anhui Provincial Bureau of Statistics showed.

Industrial firms with annual revenue of over 20 million yuan ($3.2 million) reaped profits of 84.98 billion yuan between January and May, up 11.5 percent from the same period a year ago.

State-owned industrial companies’ profits totaled 25.52 billion yuan, representing a year-on-year rise of 7.3 percent, while private companies realized profits of 29.89 billion yuan, up 16.4 percent.

The mining industry’s profits stood at 6.25 billion yuan, up 29.8 percent, the manufacturing sector’s profits reached 73.5 billion yuan, up 9.7 percent, and electricity, heat, gas and water production and supply industries together posted a 17.8 percent rise in profits, which hit 5.23 billion yuan.

Major Industrial firms’ business revenue rose 5.7 percent to 1.57 trillion yuan during the first five months of 2019. Their profit margin reached 5.41 percent, up 0.28 percentage point from the same period a year earlier.

In May alone, the province’s major industrial companies saw an increase of 8.1 percent in profits, down 3.1 percentage points from April.