China's Industrial Profits from January to November 2007 Show Jump over Previous Year

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Researched by Industrial Info Resources (Sugar Land, Texas)--From January to November of 2007, the main income of industrial enterprises with annual sales of more than $676,000 reached about $4.8 trillion, a 27.6% year-over-year increase. The total volume of taxes contributed by industrial enterprises reached $206.2 billion, up 25.3% over the same period of the previous year, and total profits reached $310.15 billion, up 36.7% year over year, the National Bureau of Statistics of China announced in late December.

Compared with the same period of 2006, the growth in main income of industrial enterprises increased 1.6 percentage points; the growth in total volume of taxes increased 2 percentage points; and profits grew 6 percentage points. The comprehensive industrial benefit index of this period reached 209.92, a year-over-year increase of 21.6 points. By the end of November, the total volume of net receivables for industrial enterprises above designated size amounted to $536.65 billion, a year-over-year increase of 18.8%; the total value of finished products reached $247.77 billion, up 21.8%.

The growth of industrial profits has been gradually slowing because of the high price of manufactured goods. The figure of 36.7% is lower than the value from January to August, and is far below the value of 42.1% from January to May, and 43.8% from January to February.

Profit growth in various sectors, such as iron and steel, architectural materials, chemical fibers and transportation, has been growing quickly.

•Iron and steel: 47.2% increase, as much as the same period of 2006

•Architectural materials: 63.1% increase

•Chemical fibers: 109.3% increase

•Chemical industry: 51.5% increase

•Electric power industry: 39%

•Smelting and pressing of nonferrous metals: 26.6%

•Coal mining: 49.1%

•Manufacture of special-purpose machinery: 61.4%

•Transportation-equipment manufacturing: 68.7%

•Manufacture of electronic communication equipment: 16.3%

The petroleum-processing and coking industry's net loss of $5.64 billion in 2006 was turned around to a $3.11 billion profit in 2007. The profit of petroleum and natural gas exploitation declined 7.6% over 2006.

Among the industrial enterprises above designated size, the profits made by state-owned and state-controlled enterprises achieved $134.62 billion, up $29.6% year over year. Collective-owned enterprises reached $7.65 billion, up 25.2%; share-holding enterprises gained $164.99 billion, up 35.1%; foreign-funded enterprises and enterprises funded from Hong Kong, Macao and Taiwan achieved $82.78 billion, up 34.3%; and private enterprises reached $54.05 billion, up 40.9%.

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