Chris
Chinese companies in the extractive industry saw a 51.4% increase in profits to 1.513 trillion yuan ($217.1 billion) during the period, while manufacturers saw a 13.4% decline in profits to 5.77 trillion yuan ($827.9 billion) in the first 11 months of 2022. Meanwhile, companies involved in the generation and transmission of electricity, heat, and gas saw a 26.1% increase in revenues to 433.3 billion yuan ($62.1 billion).
Overall, 20 of the 41 industries saw an increase in revenues while 21 saw a decrease.
Additionally, figures by the statistics office show that large state-owned industrial businesses' profits increased by 0.5% from January to November compared to the same period in 2021. Private companies saw a 2.8% decline in profit while joint-stock enterprises saw a gain of 0.8%.
source: scmp.com
Overall, 20 of the 41 industries saw an increase in revenues while 21 saw a decrease.
Additionally, figures by the statistics office show that large state-owned industrial businesses' profits increased by 0.5% from January to November compared to the same period in 2021. Private companies saw a 2.8% decline in profit while joint-stock enterprises saw a gain of 0.8%.
source: scmp.com
