Profits of major industrial companies in China rise during the first two months of 2022

The profits of the largest industrial companies in China recorded an increase of 5 percent, during the first two months of this year 2022.
China’s National Statistics Authority said in a statement that industrial companies with a turnover of at least 20 million yuan (3.14 million US dollars), saw their combined profits rise to 1.16 trillion yuan during the period.
On the other hand, the volume of loans granted to private enterprises in China last year grew by regarding 52.7 trillion yuan (8.27 trillion US dollars), an increase of 5.5 trillion yuan compared to the beginning of the year.
The China Banking and Insurance Regulatory Commission said the registered figure represented a year-on-year growth of 11.5 percent.
Over the past decade, Chinese private companies have shown remarkable momentum in a rich policy environment, with their number rising from 10.86 million entities in 2012 to 44.58 million entities last year 2021, representing 92.1 percent of companies across China.