Profit of Large Industrial Enterprises in China Fell by 36.7%
Large industrial companies in China include commercial organizations, whose positive difference in income and expenses per year exceeds 20 million yuan, or $ 2.82 million.
As follows from the document, the profit of companies in the Chinese mining industry fell by 27.5% to 88.14 billion yuan ($ 12.46 billion). The manufacturing sector negative dynamics turned out to be more significant - a decrease of 38.9% to 607.96 billion yuan ($ 85.98 billion). The indicator of producers involved in the generation and supply of electricity, heat, gas and water fell by 28.6% to 85.35 billion yuan ($ 12.07 billion).
According to official figures, in 2017, the profits of large state-owned enterprises in China grew by 8.5% to 6.8 trillion yuan (about $ 1 trillion at the current rate at that time). In 2018, the dynamics amounted to 10.3%. In 2019, it turned out to be negative, dropping to -3.3% (6.19 trillion yuan, or $ 893.87 billion).