China's industrial profits up 5% in first two months


  • China
  • Sunday, 27 Mar 2022

profits

BEIJING (Xinhua): Profits of China's major industrial firms rose 5 per cent year-on-year in the first two months of 2022, official data showed on Sunday (March 27).

Industrial firms with an annual main business revenue of at least 20 million yuan saw their combined profits reach 1.16 trillion yuan in the period, the National Bureau of Statistics said.

In the January-February period, the revenues of those firms went up 13.9 per cent year on year to 19.4 trillion yuan, and 21 out of 41 industries saw growth in profits.

At the end of February, their assets totaled 142.24 trillion yuan, up 10.4 per cent year on year. Their liabilities totaled 80.03 trillion yuan, up 10.2 per cent. The ratio of liabilities to assets was 56.3 per cent, down 0.1 percentage points year on year.

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