China's Industrial Profit Jumps 16.5% in First Two Months of 2008

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Researched by Industrial Info Resources (Sugar Land, Texas)--In the first two months of the year, the total profit of China's industrial firms above designated size -- all state-owned companies and non-state-owned companies with annual sales of more than $712,300 -- reached $49.6 billion, up 16.5% over the same period last year, the National Bureau of Statistics of China announced on March 27, 2008.

•State-owned and state-controlled firms: $20.01 billion, down 5.6%
•Collective-owned firms: $1.25 billion, up 35%
•Share-cooperative firms: $260 million, up 18.1%
•Joint-stock firms: $26.79 billion, up 17.2%
•Foreign-funded firms: $14.15 billion, up 22.5%
•Private firms: $9.06 billion, up 52.1%

Taxes paid reached $42.56 billion, an increase of 24.8%, and combined revenue reached $890.98 billion, up 27.4% year over year. By the end of February, the total volume of net receivables totaled $517.32 billion, up 17.2%, and the total value of finished products reached $248.36 billion, up 21.2%.

Sectors

•Oil and natural gas: 61.2% increase
•Coal: 66.8% increase
•Architectural materials: 53.5% increase
•Chemicals: 15.9%
•Smelting and pressing of nonferrous metals: 1.6%
•Special-purpose machinery: 35.9%
•Transportation equipment: 42.6%
•Electronic communication equipment: 37.7%
•Electric power: 61% decrease
•Chemical fibers: 0.2% decrease

The petroleum processing and coking industries lost $2.22 billion compared with $2.93 billion last year.

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