China's Industrial Profits Up 9.4% in First Two Months of 2014

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Researched by Industrial Info Resources China (Beijing, China)-- China's industrial enterprises, which have annual revenues of at least CNY20 million (US$3.23 million), saw $125.7 billion in combined profits for the first two months of 2014, a 9.4% increase from the same period last year. Industrial profits from principal businesses stood at $119.29 billion in profits, an increase of 8.4%, the National Bureau of Statistics of China announced on March 27.

The profits of state-owned and state-holding industrial enterprises fell 0.2% to $34.98 billion; profits for collective-owned enterprises reached $1.73 billion, an increase of 4.8%; joint-stock enterprises rose 6.9% to $71.88 billion; foreign-funded enterprises and enterprises funded from Hong Kong, Macao and Taiwan saw $29.28 billion in profits, a 14.5% increase; and profits for private enterprises rose 16.4% to $41.99 billion.

For January through February, the profits of mining and quarrying totaled $16.74 billion, a drop of 18.5% from the same period last year; manufacturing saw $98.54 billion in profits, an increase of 14.8%; and profits for producers and distributors of electricity, gas and water reached $10.43 billion, up by 22.8%.

Within 41 branches of industrial divisions, the industrial profits of 29 industrial divisions increased from January through February, while 11 decreased and losses for one industry declined. Profits for food processors increased 10.3%; textile manufacturers rose 17.5%; processors and refiners of petroleum, coking and nuclear energy increased 48.3%; profits rose 10.2% for manufacturers of chemical raw materials and chemical products; and manufacturers of non-metallic mineral products increased 37%.

Profits rose 22% for the manufacture of general-purpose machinery; 19% for the manufacture of special-purpose machinery; 36.8% for the manufacture of motor vehicles; 32.1% for the manufacture of electrical machinery and equipment; and 25.6% for the production and supply of electric power and heat power.

Profits fell 42.5% for the mining and washing of coal; 9.9% for the production of petroleum and natural gas; 26.1% for the manufacture and processing of ferrous metals; 10.5% for the manufacture and processing of non-ferrous metals; and 14.1% for the manufacture of computer, communication equipment and other electronic equipment.

From January through February, the revenue from principal businesses of enterprises reached $2.38 trillion, an increase 8% from the same period last year. Main business costs totaled $202.76 billion, an increase of 8.9%.

By the end of February, the total volume of receivable accounts for industrial enterprises hit $144.45 billion, up 12.7%. The total value of finished products for industrial enterprises accounted for $52.14 billion, up 10.2%.

From January through February, the main business income margin of industrial enterprises reached 5.28.

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