SunSirs: Ferrous Metal Smelting and Rolling Industry Reports RMB 105.32 Billion in Total Profits for January-October

According to China's National Bureau of Statistics, from January to October, China's industrial enterprises above designated size nationwide achieved a total profit of RMB 5.95 trillion, marking a 1.9% year-on-year increase.

Among China's industrial enterprises above designated size during January-October: State-controlled enterprises recorded total profits of RMB 1,849.02 billion, unchanged year-on-year; Shareholding enterprises achieved total profits of RMB 4,432.83 billion, up 1.5%; Foreign-funded and Hong Kong/Macao/Taiwan-funded enterprises realized total profits of RMB 1,484.86 billion up 3.5%; Private enterprises earned total profits of RMB 1,699.56 billion, up 1.9%. From January to October, China's mining industry recorded total profits of RMB 712.33 billion, down 27.8% year-on-year; the manufacturing sector achieved total profits of RMB 4,505.03 billion, up 7.7%; and the electricity, heat, gas, and water production and supply industry realized total profits of RMB 732.93 billion, up 9.5%.

From January to October, profits in China's major industries were as follows: Nonferrous metal smelting and rolling industry profits increased by 14.0% year-on-year; Electricity, heat production, and supply industry profits grew by 13.1%; computer, communications, and other electronic equipment manufacturing grew by 12.8%, food processing increased by 8.5%, electrical machinery and equipment manufacturing rose by 7.0%, general machinery manufacturing grew by 6.2%, specialized machinery manufacturing increased by 5.0%, automobile manufacturing grew by 4.4%, and non-metallic mineral products manufacturing rose by 1.0%. The ferrous metal smelting and rolling industry turned from loss to profit, with total profits reaching RMB 105.32 billion. The petroleum, coal, and other fuel processing industry reduced losses year-on-year. The chemical raw materials and chemical products manufacturing industry declined by 5.4%, the textile industry by 6.1%, the petroleum and natural gas extraction industry by 12.5%, and the coal mining and washing industry by 49.2%.

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