In the January-October period this year, the aggregate gross profits of large and medium-sized industrial enterprises in China amounted to RMB 4.62632 trillion ($755.9 billion), increasing by 13.7 percent year on year, according to data released by China's National Bureau of Statistics (NBS) on November 28. In October alone, the aggregate gross profits of large and medium-sized industrial enterprises in China amounted to RMB 581.04 billion ($94.9 billion), increasing by 15.1 percent compared to October last year.
Of the 41 major industrial sectors in China, in the first 10 months this year 26 sectors registered year-on-year increases in gross profit, 13 sectors witnessed year-on-year decreases in gross profit, while two sectors achieved profitability following losses recorded in the same period last year.
In particular, in the January-October period of the current year the aggregate gross profit of the ferrous metal mining industry in China was RMB 76.41 billion ($12.5 billion), increasing by 0.5 percent year on year. Meanwhile, the aggregate gross profit of the ferrous metal smelting and processing industry in China was RMB 96.62 billion ($15.8 billion) in the given period, increasing by 77.2 percent year on year. The aggregate gross profit of the metal product manufacturing sector in China in the January-October period this year was RMB 130.01 billion ($21.2 billion), increasing by 18.2 percent year on year. In addition, in the first 10 months of the current year total gross profits of the general equipment manufacturing sector in China rose by 14.1 percent year on year to RMB 212.92 billion ($34.8 billion), the total gross profits of China's automobile manufacturing sector amounted to RMB 397.08 billion ($64.9 billion), indicating a year-on-year increase of 22.4 percent, while the total gross profits of the railway, ship, aerospace and transportation machinery and equipment manufacturing sector increased by seven percent year on year to RMB 61.45 billion ($10.04 billion).