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Friday, 21 August 2020 14:16

China’s H1 industrial enterprises’ profits decline by 12.8 per cent

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As per data released by the National Bureau of Statistics, from January to June, profit of China's industrial enterprises above designated declined 12.8 per cent year-on-year and 6.5 percentage points to CNY 2.51 trillion compared to the first five months of this year, The profit of manufacturing industry declined by 9.8 per cent year-on-year to CNY 2.12 trillion

From January to June, the main income of textile enterprises above designated size decreased by 15.6 per cent to CNY 966.94 billion compared with the same period the previous year. The profit of textile industry totaled CNY 40.21 billion, with year-on-year decline of 5.6 per cent. While the main business income of enterprises above designated size in garment and accessories industry dropped by 16.4 per cent to reach CNY 577.63 billion, profit of garment and accessories industry declined by 27.4 per cent to reach CNY 23.53 billion.

The main business income of leather, fur, feather and their products and footwear industry from January to June declined by 17.2 per cent year-on-year to reach CNY 460.1 billion; their profit totaled CNY 21.23 billion, with year-on-year decrease of 29.5 per cent.

From January to June, the main business income of enterprises above designated size in chemical fiber manufacturing industry declined by 18.4 per cent year-on-year to CNY 349.36 billion, profit plunged by 41.9 per cent year-on-year to CNY 7.23 billion. In June, the profit of industrial enterprises above designated size totaled CNY 666.55 billion increased by 11.5 per cent year-on-year.