Growth of industrial profits from January to April exceeded 90%

Data issued by the National Bureau of Statistics on May 28 indicated that from January to April, the industrial enterprises above designed size in 24 areas nationwide realized the profits of RMB978.5b, up 91.5% year-on-year, with the growth down 11.1 percentage points compared with the first quarter.

Among 39 large industries, profits growth of 25 industries declined compared with the first quarter while that of 14 ones rose, of which oil and gas mining saw a year-on-year increase of 2.3 times in profits, the chemical materials and chemical products industry rose 86.6%, the ferrous metal smelting and rolling processing industry 140 times (while the profits from January to April last year was merely RMB340m), the non-ferrous metal smelting and rolling processing industry 3.9 times and the transportation equipment manufacturing 1.7 times while the profits of the tobacco manufacturing declined 15.0% year-on-year and the petroleum processing, refining and nuclear fuel industry 6.8%.