Profits of industrial companies in China fell by 3.6 percent in the January-November period compared to last year.
According to the data of the National Bureau of Statistics (UIB), the total profits of industrial enterprises with annual turnover of more than 20 million yuan (about 2.9 million dollars) amounted to 7.7 trillion yuan (about 1.1 trillion dollars) in 11 months.
While the total revenues of industrial establishments increased by 6.7 percent and their expenses by 10.3 percent, their profits decreased by 3.6 percent compared to the end of 2021.
While profit increases were recorded in 20 of 41 industrial branches, profitability decreased in 21 of them.
While the profits of industrial enterprises increased by 8.5 percent in the first quarter, they decreased by 1 percent in the second quarter and 2.3 percent in the third quarter.