10:56 - 27.09.2024
September 27, Fineko/abc.az. The total profit of large industrial companies in China for Jan-Aug increased by 0.5% compared with the 2023 same term - to 4.653 trillion yuans ($664 billion), ABC.AZ informs with reference to State Statistical Office.
Industrial enterprises with annual revenue of over 20 million yuans are considered to be large by SSO.
For comparison, for Jan-Jul, growth was 3.6%.
In August, the total profit of large industrial enterprises in China fell by 17.8% versus the same month a year earlier. In July, the indicator increased by 4.1%.
The decrease in profits was the result of weak demand, adverse weather conditions, as well as the effect of a high base, the Office notes.
The profit of state-owned companies decreased by 1.3% in the first eight months of this year, while private companies increased by 2.6%.
