China’s industrial profit down 21.2% in first half

28 July 2009 11:51  [Source: ICIS news]

SHANGHAI (ICIS news)--China’s industrial profit fell 21.2% year on year in the first half of 2009 to yuan (CNY) 894bn ($131bn), the National Bureau of Statistics (NBS) said on Tuesday.

However, the rate of decline had fallen from the 24.6% figure for the first five months of the year, the statistics showed.

Within the 39 industrial sectors included in the figures, 27 showed either a continued year-on-year rise in profit growth or a reduction in the rate of profit decline, the NBS said.

The oil processing and coking sector saw profits rise nearly three times year on year to CNY41.14bn in the first half, while the chemical fibre sector saw profits down 4.6% year on year, according to the NBS.

China's primary business revenue rose 0.4% year on year to CNY17,971bn in the first half, compared with a 0.3% year-on-year drop in the first five months, the NBS said.

($1 = CNY6.83)

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