China's industrial profits rose 6.3% from a year earlier to 502.42 billion yuan in June, with the growth well below the 15.5% rate in the previous month, the National Bureau of Statistics said.

Three industries – coal mining, ferrous metal smelting and nonferrous metal smelting – posted declining profits in June, holding back the overall growth, the bureau said.

Slowing revenue growth and higher operating expenses were also blamed for the slower overall growth in industrial profits.

In the first half of 2013, China's industrial profits totaled 2.58 trillion yuan, up 11.1% from the same period of the year before. The growth rate was 1.2 percentage points slower than in the first 5 months combined.

Between January and June, industrial profits from state-owned firms were up 4.8% year on year to 728.77 billion yuan; industrial profits from foreign-funded firms were up 14.8% year on year to 598.39 billion yuan; industrial profits from the private sector were up 15.8% year on year to 799.94 billion yuan.

Compared with the same period in 2012, 30 of the 41 industries reported profit increases in January-June, 8 industries reported profit declines, 2 industries reversed losses to profits and 1 industry reported a smaller loss.

All industrial firms' operating revenue grew 11.4% year on year to 47.84 trillion yuan January-June, with a 5.4% gross margin.

The data were based on companies that post at least 20 million yuan in annual revenues.

Gross Profits by Selected Industry, Billion Yuan, January-June 2013
Coal mining: 108.28; -43.3%
Oil & gas exploration: 203.43; -8.4%
Ferrous mining: 37.4; +4.5%
Nonferrous mining: 30.21; -9%
Nonmetal mining: 15.14; +12.9%
Produce processing: 118.08; +10.9%
Food processing: 64.7; +21.3%
Beverage processing: 74.86; +10.4%
Tobacco processing: 70.02; +14.8%
Textiles: 78.82; +19.2%
Garments: 44.43; +12.3%
Furniture making: 15.31; +15.9%
Papermaking: 29.87; +13.9%
Oil refining: 7.98; 25.35 loss a year earlier
Chemicals making: 160.95; +9.8%
Drug making: 91.69; +16.6%
Rubber & plastics making: 70.4; +21.8%
Nonmetal mineral making: 140.24; +18.5%
Telecom device making: 120.25; +11%
Auto making: 232.71; +20.2%
Machinery making: 128.82; +12.6%
Electronics making: 119.71; +32.4%
Power generation: 160.55; +79%

You are currently reading words of total words in this article.
To continue reading this article, you must be a subscriber. Log in now..

Finish this article for free.
@2017 China Economy @ China Perspective.
All Right Reserved.
Server SSL Certificate