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Anhui's Industrial Profits up 11% in Jan-Aug

source:www.cnanhui.org release date:2019/10/08 hits:11

Anhui province posted an 11 percent year-on-year increase in industrial profits during the first eight months this year, ranking 7th in China and 3rd among six provinces in Central China, data showed.

Industrial firms with annual revenue of over 20 million yuan (about $2.79 million) reaped profits of 142.26 billion yuan between January and August, up 11 percent from the same period a year ago, according to the provincial bureau of statistics.

State-owned industrial companies’ profits totaled 45.16 billion yuan, representing a year-on-year rise of 12 percent, while private companies realized profits of 41.37 billion yuan, up 10 percent.

Joint ventures reaped profits of 126.23 billion yuan, up 12.60 percent. Industrial firms founded by overseas investors, whose profits reached 13.07 billion yuan, posted a 2.5 percent increase.

In the Jan-Aug period, 26 out of the province’s 39 industrial sectors saw profit growth, while 11 experienced decreases. The ferrous metal mining industry posted a 200 percent surge in profit, followed by the chemical fiber manufacturing industry (140 percent), the tobacco industry (93.6 percent), and the coal mining industry (59.6 percent).

Major Industrial firms’ operating revenue rose 4.2 percent to 2.58 trillion yuan during the period. Their profit margin reached 5.52 percent, up 0.33 percentage point from the same period a year earlier.

In August alone, the province’s industrial profits totaled 17.86 billion yuan, up 6.3 percent. The growth was lower than July’s 12.8 percent increase.