Don't have an account yet? Get FREE 7-Day Trial
China's 2,400-plus publicly traded firms reported a combined ¥1.94 trillion net profit in 2011, up 11.6% from the previous year. The rate was well below 2010's 37.3% growth from 2009, according to the China Securities Journal.
Apart from the financial and food and beverage industries, others recorded slower growths in earnings last year, particularly steelmakers, electricity producers and shipping companies. Net profits reaped by 2,354 non-financial companies grew just 6% to ¥1.19 trillion.
Revenues of all listed companies rose 23.5% to ¥22.24 trillion in 2011, much slower than the 35.4% in 2010, according to Wind data.
The top five industries by revenue growth were agriculture, mining, nonferrous metals, chemicals and hospitality, whose average growth rate was 33.5%, compared to 47.4% in 2010. These were the most profitable industries as well.
The real estate and building material industries saw the slowest growths in revenue last year, which were 18.1% and 10.5% respectively.
In the first quarter of this year, listed companies' net profits added up to ¥494.4 billion, down 0.1% year on year and up 18.1% quarter on quarter, indicating corporate earnings were on the mend.
$1 = ¥6.28
@2011 China Economy @ The China Perspective.
HOME
