At the same time, Chinese corporations witnessed a total profit of 1,439,630 million yuan, up 14.4%. Gross profits of foreign-affiliated companies and companies invested by Hong Kong, Macau and Taiwan fell 7.6% to 470,750 million yuan. The total profit of private enterprises was 533.15 billion yuan, an increase of 3.2%.
The total profit of Chinese industrial enterprises exceeding the designated scale was 1,955,570 million yuan between January and March, an increase of 8.5% from the previous year (YoY). Among the industrial enterprises exceeding the designated scale, the state-owned enterprises achieved a total profit of 706.85 billion yuan during the same period, an increase of 19.5% from the previous year.
According to official data, the country’s manufacturing gross profit from January to March was 1,478.1 billion yuan, down 2.1%.
Of the 41 major industries, 24 had a year-on-year increase in gross profit, 15 had a decline, one had a loss, and one was flat.
Profit in the chemical raw materials and chemicals manufacturing industry increased by 18.4% and the textile industry increased by 14% in the first quarter of this year.
Fiber2Fashion News Desk (DS)
Profit of designated Chinese industrial company will increase by 8.5% in the first quarter of 2022
Source link Profit of designated Chinese industrial company will increase by 8.5% in the first quarter of 2022