As announced by China's National Bureau of Statistics on August 27, in the first seven months this year the aggregate gross profits of large and medium-sized industrial enterprises in China reached RMB 3.00322 trillion ($490.5 billion), rising by 11.1 percent year on year.
In July alone, the aggregate gross profits of large and medium-sized domestic industrial enterprises totaled RMB 419.55 billion ($68.52 billion), up 11.6 percent year on year.
Of the 41 major industrial sectors in China, in the first seven months 27 sectors registered year-on-year increases in gross profit, 11 sectors witnessed year-on-year decreases in gross profit, two sectors achieved profitability following the net loss recorded in the same period last year, while one sector witnessed a lower net loss on year-on-year basis.
In particular, in the January-July period of the current year the aggregate gross profit of the ferrous metal mining industry in China was RMB 45.68 billion ($7.46 billion), decreasing by 7.2 percent year on year. Meanwhile, the aggregate gross profit of the ferrous metal smelting and processing industry in China was RMB 50.61 billion ($8.27 billion), increasing by 27.9 percent year on year. The aggregate gross profit of the metal product manufacturing sector in China in the January-July period this year was RMB 82.25 billion ($13.43 billion), increasing by 17.5 percent year on year.
In addition, in the first seven months of the current year total gross profits of the general equipment manufacturing sector in China rose by 11 percent year on year to RMB 139.83 billion ($22.84 billion), the total gross profits of China's automobile manufacturing sector amounted to RMB 269.2 billion ($43.97 billion), indicating a year-on-year increase of 19.7 percent, while the total gross profits of the railway, ship, aerospace and transportation machinery and equipment manufacturing sector decreased by 2.8 percent year on year to RMB 39.18 billion ($6.399 billion).