Growth Rate of China's Industrial Profit Decreases

From January to November, the total profit of China's industrial enterprises with annual sales of more than $724,600 reached $348.78 billion, an increase of 4.9 percent year over year but down 31.8 percentage points compared with the same period last year, the National Bureau of Statistics of China on December 26.

- State-owned and state-controlled firms: $115.72 billion, down 14.5%
- Collective-owned firms: $9.96 billion, up 29.5%
- Share-cooperative firms: $2.43 billion, up 19.2%
- Joint-stock firms: $195.17 billion, up 11.4%
- Foreign-funded firms: $92.38 billion, down 3.1%
- Private firms: $79.64 billion, up 36.6%

Taxes paid totaled $265.42 billion, up 20.7% year over year, and combined revenue totaled $6.37 trillion, up 24.1% year over year. By the end of November the total volume of net receivables totaled $652.26 billion, up 12.3%, and the total value of finished products reached $334.99 billion, up 25%.

Sectors

- Oil and natural gas: up 37.2%
- Coal: up 133.7%
- Iron and steel: down 13.7%
- Architectural materials: up 27.7%
- Chemicals: up 0.2%
- Smelting and pressing of nonferrous metals: down 34.1%
- Special-purpose machinery: up 9.4%
- Transportation equipment: up 15.7%
- Electronic communication equipment: up 1.1%
- Electric power: down 84.1%
- Chemical fibers: down 74.9%

The petroleum processing and coking industries lost $18.26 billion compared with a profit of $3.55 billion in the same period last year.