360° Coverage : China's industrial profit rise

10 Updates
China's industrial profit rise
Photo Credit: ERIC PIERMONT, Getty Images

China's industrial profit rise

Aug 27 2013, 4:42am CDT | by IANS

Beijing, Aug 27 (IANS) Major Chinese industrial firms saw their combined profits rise 11.6 percent year-on-year in July, gaining from the 6.3 percent in June, official data showed Tuesday.

Beijing, Aug 27 — Major Chinese industrial firms saw their combined profits rise 11.6 percent year-on-year in July, gaining from the 6.3 percent in June, official data showed Tuesday. The rise in the...

Filed under: news

 
 
 

1 year ago

China's industrial profit rise

Aug 27 2013, 4:42am CDT | by IANS

Beijing, Aug 27 (IANS) Major Chinese industrial firms saw their combined profits rise 11.6 percent year-on-year in July, gaining from the 6.3 percent in June, official data showed Tuesday.

Beijing, Aug 27 — Major Chinese industrial firms saw their combined profits rise 11.6 percent year-on-year in July, gaining from the 6.3 percent in June, official data showed Tuesday.

The rise in the industrial profit points to further evidence of a firming economy.

The profits of industrial companies with annual revenues of more than 20 million yuan ($3.24 million) hit 419.55 billion yuan in July, Xinhua reported citing China's National Bureau of Statistics (NBS).

In the first seven months, their profits rose 11.1 percent to 3.0 trillion yuan.

Among the 41 industries surveyed, 27 posted year-on-year profit growth during the January-July period, while 11 saw a decline in profits.

Private businesses led the growth, with their combined profits up 15.4 percent year-on-year in the first seven months, while state-run enterprises saw profits up 5.5 percent during the period.

While acknowledging the acceleration of profit growth, NBS analyst He Ping also cautioned that the gains were concentrated in several sectors and the aggregate business profitability remained at a relatively low level as production costs keep climbing.

Electricity, heat production and supply industry saw profits jump to 73.5 percent in the first seven months, and manufacturers of computers, telecommunication and electronics saw their profits rise 29 percent.

Tuesday's data came after a string of other economic indicators, from factory output and retail sales to foreign trade, showed the world's second-largest economy may be gradually stabilising after a protracted slowdown.

HSBC's preliminary reading for China's manufacturing sector showed the Purchasing Managers Index rose to 50.1 in August, the highest level in four months.

"China has shown clear signs of stabilising and the country is on track to meet its annual growth target of 7.5 percent," NBS spokesman Sheng Laiyun said Monday.

China's economic growth eased to 7.5 percent in the second quarter, down from 7.7 percent in the first three months.

Instead of initiating a massive stimulus programme to lift the economy, the authorities are moving cautiously by speeding up shantytown renovation, accelerating railways and infrastructure investments and reducing taxes for small businesses.

As these policies filter through, China's economy is showing mounting signs of stabilisation that has prompted the scale-up of growth forecast for the second half of the year.

Deutsche Bank has recently raised its forecast for China's GDP growth in the second half to 7.7 percent from its previous estimate of 7.6 percent, and Credit Suisse tuned up the annual growth forecast from 7.4 percent to 7.6 percent.

IANS

Source: IANS

 
Update
10

6 weeks ago

China police detain workers demanding back pay in rare case of detentions in labour dispute

Nov 5 2014 3:22am CST | Source: Canadian Business Online

BEIJING, China – Activists say police in southern China have detained seven employees of a shoe factory amid a quarrel over back pay and benefits in a rare case of detentions in a labour dispute. Rights advocate Peng Jiayong said Wednesday that employees went to the Xinsheng shoe factory in Guangzhou on Monday after the local government promised a “satisfactory” solution to the dispute. They were met with about 200 hundred police officers who took away workers’ r ...
Source: Canadian Business Online   Full article at: Canadian Business Online
 

 
Update
9

6 weeks ago

Anti-graft group: multinationals found lacking on transparency

Nov 5 2014 3:07am CST | Source: Canadian Business Online

BERLIN – A leading anti-graft organization has criticized globally operating companies for failing to disclose important information that might help combat corruption. Berlin-based Transparency International says it reviewed 124 of the world’s biggest publicly traded companies and found that 90 don’t disclose the taxes they pay abroad. In a report published Wednesday, the group says 54 of the companies examined provided no information at all on their revenues in ...
Source: Canadian Business Online   Full article at: Canadian Business Online
 

 
Update
8

6 weeks ago

China factory whirs overtime to make Ebola suits

Nov 5 2014 2:07am CST | Source: The Standard: China's Business Newspaper

Far from the Ebola hot zone, the sewing and gluing machines at a factory in China have been whirring more than usual to produce crucial ...
Source: The Standard: China's Business Newspaper   Full article at: The Standard: China's Business Newspaper
 

 
Update
7

6 weeks ago

Obama to confront China's Xi on cyber spying - U.S. officials

Nov 4 2014 11:43pm CST | Source: The Nation - Pakistan

(Reuters) - U.S. President Barak Obama will confront Chinese President Xi Jinping at talks in Beijing next week over deep U.S. concerns about cyber spying by China’s government and military and will insist that it be stopped, senior U.S. officials said on Tuesday. The officials, briefing reporters before Obama’s trip to Beijing for an Asia-Pacific summit and ...
Source: The Nation - Pakistan   Full article at: The Nation - Pakistan
 

 
Update
6

6 weeks ago

Asian shares sag, dollar steadies

Nov 4 2014 10:47pm CST | Source: Reuters India

TOKYO (Reuters) - Asian shares wilted on Wednesday as oil prices extended losses after weak economic data from China, while the dollar took a breath ...
Source: Reuters India   Full article at: Reuters India
 

 
Update
5

6 weeks ago

U.S. Company to Build Two China Hospitals

Nov 4 2014 10:26pm CST | Source: WSJ.com: Asia Home

Columbia Pacific Management of the U.S. is building two hospitals in China with an investment of up to $200 million, and plans to build more to tap demand from the country’s ...
Source: WSJ.com: Asia Home   Full article at: WSJ.com: Asia Home
 

 
Update
4

6 weeks ago

‘They Will Kill Your Baby in Your Face’—Chinese Activist Chen Guangcheng

Nov 4 2014 4:07pm CST | Source: Canada Free Press

WASHINGTON,—“In today’s China, under the communist rule, the government can put their hand into your body, grab your baby out of your womb, and kill your baby in your face.” These were the words of Nobel Peace Prize nominee Chen Guangcheng. Jailed, tortured and denied medical treatment for years in China, Chen exposed the rampant use of forced abortion and involuntary sterilization in the coercive enforcement of China’s notorious ...
Source: Canada Free Press   Full article at: Canada Free Press
 

 
Update
3

6 weeks ago

CHART: Despite Xiaomi's Explosive Growth, Samsung Is Still The Most Valuable Android Maker

Nov 4 2014 3:25pm CST | Source: Business Insider

Xiaomi, the so-called "Apple of China," is looking to raise money at a valuation between $40 and $50 billion. The discussions are still at an early stage, but it's still impressive considering Xiaomi is a 3-year-old company that's also the biggest smartphone maker in China and the fourth-largest smartphone maker in the world. Compared to other Android manufacturers, Xiaomi's proposed valuation would put it ahead of most of the field, but it would still trail Sam ...
Source: Business Insider   Full article at: Business Insider
 

 
Update
2

6 weeks ago

Kerry Says U.S.-China Cooperation Is Essential

Nov 4 2014 2:44pm CST | Source: WSJ.com: Asia Home

Ahead of a presidential visit to China, Secretary of State John Kerry said Tuesday that it is imperative that Washington and Beijing work together on climate change and other areas, despite deep divisions on many issues, such as cyber theft and mari ...
Source: WSJ.com: Asia Home   Full article at: WSJ.com: Asia Home
 

 
Update
1

6 weeks ago

Xiaomi vs. Lenovo: The War Between China’s Top Smartphone Makers

Nov 4 2014 2:40pm CST | Source: Fool.com

Lenovo just toppled Xiaomi as the world’s third largest smartphone maker. What should investors know about these two top smartphone m ...
Source: Fool.com   Full article at: Fool.com
 

 
 

blog comments powered by Disqus

Latest stories

Russia allows buffalo meat imports from India
Moscow, Dec 4 (IANS/TASS) Russia has allowed imports of buffalo meat from India, the country's veterinary regulator said Thursday.
 
 
New guidelines for prostate cancer testing
Melbourne, Dec 4 (IANS) Prostate cancer checks in Australia are set to improve after cancer agencies and health experts reached an agreement on new testing guidelines at the World Cancer Congress (WCC) currently being held in Melbourne.
 
 
Australian researcher discovers first artwork by early human
Sydney, Dec 4 (IANS) An Australian researcher has discovered what is believed to be the first artwork created by a human.
 
 
Insects compete with rats to clear garbage
New York, Dec 4 (IANS) Insects play a very important role in cleaning up cities and they compete with other pests like rats and pigeons in their endeavour, a study has said.
 
 
 

Latest from the Network

Australian researcher discovers first artwork by early human
Sydney, Dec 4 (IANS) An Australian researcher has discovered what is believed to be the first artwork created by a human. The simple zigzag pattern found on a fossilized shell from the Indonesian island of Java has...
Read more on Celebrity Balla
 
Insects compete with rats to clear garbage
New York, Dec 4 (IANS) Insects play a very important role in cleaning up cities and they compete with other pests like rats and pigeons in their endeavour, a study has said. Scientists sampled arthropods - such as...
Read more on Business Balla
 
School headmaster shot dead in Pakistan
Islamabad, Dec 4 (IANS) Unidentified gunmen Thursday killed the headmaster of a private school in Pakistan's Balochistan province. Police officials said the armed men opened fire at the vehicle of Zahid Ali,...
Read more on Politics Balla
 
Four more bodies recovered from sunken South Korean ship
Seoul, Dec 4 (IANS) Four more bodies were recovered Thursday from a sunken South Korean fishing ship in the Bering Sea, the foreign ministry here said. This increased the toll to 16, including six South Koreans and 10...
Read more on Politics Balla
 
Lesbian couple asked to desist in London restaurant
London, Dec 4 (IANS) A lesbian couple in a London restaurant was asked to desist by a staff member, who asked them to "stop what you are doing". Lydia Cawson, 29, said that she and her girlfriend were asked by a staff...
Read more on Politics Balla
 
Oxford Dictionaries to add 1,000 new words
London, Dec 4 (IANS) 'Mamil' (middle-aged man in Lycra), 'silvertail' (a person who is socially prominent or who displays social aspirations) and 'crony capitalism' are among the 1,000 new words to be added to...
Read more on Celebrity Balla
 
Oceans play key role in global 'warming hiatus'
London, Dec 4 (IANS) Increased heat uptake across three oceans - North Atlantic, the Southern Ocean and Equatorial Pacific Ocean - is the likely cause of the 'warming hiatus' -- the current decade-long slowdown in...
Read more on Politics Balla
 
Novel imaging to identify if TB drugs are working
Washington, Dec 4 (IANS) Tuberculosis patients who are not cured of the infection can develop multi-drug resistant TB and have to take as many as six drugs for two years. Now, researchers at University of Pittsburgh...
Read more on Business Balla
 
PM makes first appointment to High Court of Australia
Canberra, Dec 4 (IANS) Prime Minister Tony Abbott's government Thursday appointed former Victorian Supreme Court judge Geoffrey Nettle as the next Justice of the High Court of Australia. Attorney General George...
Read more on Politics Balla
 
18 suspected militants killed in Pakistan airstrikes
Islamabad, Dec 4 (IANS) At least 18 suspected militants were killed Thursday in airstrikes conducted by Pakistan Air Force fighter jets in North Waziristan. According to officials, the airstrikes were conducted in...
Read more on Politics Balla