China's industrial profits down by 2.1 %

JankariGyan Created By Sweti 27 Sept 2022

The profits of China's top industrial enterprises declined 2.1 percent in the first eight-month period of 2022.

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Industries that have an annual primary business revenue at or above 20 million Yuan

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this saw their total profits rise to 5.53 trillion yuan during the last quarter, The National Bureau of Statistics (NBS) stated.

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The total revenues of these companies exhibited an increase in speed over the course of the year,

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growing 8.4 percent annually to 87.89 trillion dollars, NBS data showed.

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16 of the 41 major industries witnessed an increase in profits during the period between January and August.

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The manufacturing of electrical equipment and machinery sector saw profits increase 20.9 percent year-on-year and

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profits from the production of chemical chemicals and raw materials increased by 5 percent.

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$193,000 flying car requires only a driver’s license

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