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As reported today by the State Statistical Bureau of China, the profits of large industrial enterprises increased by 3.7% year on year, after rising 4.2% in April. In the five months of this year, profit increased compared to the same period of last year by 6.4% and amounted to $ 356 billion.
The report said that since the beginning of this year, profits of China's industrial enterprises are steadily growing, with the main source of profit for companies is their main occupation. The highest growth is observed among the producers of coal, steel and non-ferrous metals. Reduction in recorded profits is seen in the chemical and petrochemical industries, as well as among electronics manufacturers.
The report of the department also reported that in May, the total debt of industrial enterprises increased by + 4.9% y/y.
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