China's industrial profits rose 11.6% from a year earlier to 419.55 billion yuan in July, with the growth bouncing back strongly from the 6.3% rate in the previous month, the National Bureau of Statistics said.
The increase in industrial profits came mainly from four industries: power generation, information technology and electronics, petrochemicals and car making, which contributed 10.5 percentage points to the overall 11.6% growth in July.
Driven by rising labor costs, operating expenses for every 100 yuan in revenue rose by 0.81 yuan to 87.07 yuan in July, despite a fall in raw material prices.
In the first 7 months of 2013, China's industrial profits totaled just over 3 trillion yuan, up 11.1% from the same period of the year before. The growth rate remained unchanged compared with the first 6 months combined.
Between January and July, industrial profits from state-owned firms were up 5.5% year on year to 833.19 billion yuan; industrial profits from foreign-funded firms were up 14.8% year on year to 698.78 billion yuan; industrial profits from the private sector were up 15.4% year on year to 943.93 billion yuan.
Compared with the same period in 2012, 27 of the 41 industries reported profit increases in January-July, 11 industries reported profit declines, 2 industries reversed losses to profits and 1 industry reported a smaller loss.
All industrial firms' operating revenue grew 11% year on year to 56 trillion yuan January-July, with a 5.6% gross margin.
The data were based on companies that post at least 20 million yuan in annual revenues.
Gross Profits by Selected Industries, Billion Yuan, January-July 2013
Coal mining: 119.32; -43.8%
Oil & gas exploration: 231.05; -8.4%
Ferrous mining: 45.68; -7.2%
Nonferrous mining: 34.24; -9.9%
Nonmetal mining: 17.79; +12.5%
Produce processing: 138.32; +10.1%
Food processing: 75.72; +19.2%
Beverage processing: 85.99; +11.5%
Tobacco processing: 80.66; +16%
Textiles: 92.53; +17.9%
Garments: 52.12; +10.9%
Furniture making: 18.15; +16.6%
Papermaking: 34.63; +13.5%
Oil refining: 11.24; 34.04 loss a year earlier
Chemicals making: 185.83; +8.4%
Drug making: 106.21; +16.9%
Rubber & plastics making: 82.66; +21.2%
Nonmetal mineral making: 168.4; +19.1%
Telecom device making: 139.83; +11%
Auto making: 269.2; +19.7%
Machinery making: 151.56; +11.3%
Electronics making: 131.31; +29%
Power generation: 196.84; +73.5%
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