Back down by 4.2% with weak sales and falling prices
Chinese companies' profits exceed $ 110 billion
Chinese industrialcompanies' profitsfell by4.2 per centon an annual basis, in themonth ofNovember(last November)afterthose profitsamounted to676.12 billionyuan(about110.84billion dollars).
According to the "German", theofficial datareleasedyesterday showedby the National Bureauof Statisticsthatthe profits of thesecompaniesfell by2.1 per centin the month ofOctober(October)increased by0.4 per centin the month ofSeptemberfellby 0.6per cent inAugust(August), whileincreased by13.5per cent inJulyon an annual basis.
Pingstatisticalspecialist attributedininterest, the reason forthe declinein profitstodouble thesalesof industrial productsand decliningprices,addingthat despite thedecline, butthat the industrial sectorcontinues toupdatethe performance ofthe bestin equipment andhigh-tech industrymanufacturingprocess, but with therecessionin other areassuch as the productionof raw materials.
The totalprofits ofindustrial companiesduring the periodofJanuary(January) untilNovember(November)to5.62 trillionyuan, an increase of5.3 per centon an annual basis, but thegrowthslowedby 1.4percentagepoints lower than thatwitnessed inthe first ten monthsof2014.
During the11-month,33sectorsamong the41surveyedsaw an increasein profitson an annual basis,whileeight sectorsrecorded a declineinprofits,whileprivate sector companieshave seenrelatively stableearnings growthat7.2 per cent, whilestate-owned enterprisesprofitfell3.5per centon an annual basisin thefirst 11 months ofthis year.
announced thatforeign-fundedcompaniesfora strongerpaceof growth inearningsin the same periodwith an increase of10.3 percenton an annual basis,andrelycalculatednumbersbyChineseinterestof Statisticson thesurveyincludescompaniesthat exceed theannual revenuefor eachof them20 millionyuan.
The Chinese governmentannounced earliermanagedthe country's economybyprovidingnearly13 millionnew jobs in2014,exceedingthe officialtarget level,as data showedthatChina added10.82 millionnew jobs inthe first ninemonths of this year, in line withthe government's goal.
Chinaaims tokeep theregisteredunemploymentratein citiesat less than4.6 per centin2014, unchanged fromthe targetat the2013level,but manyeconomists believethat the realfigure could bemore thanthatinthe light ofthe difficulty oftrackingthe large numbersof migrant workersin the country.