Monday, March 27, 2023 – 8:27 PM
BEIJING, March 27 / WAM / Data from the National Bureau of Statistics in China showed today, Monday, that the profits of major Chinese industrial companies amounted to 88.72 billion yuan ($12.9 billion), and decreased by 22.9 percent year-on-year, in the first two months of 2023.
The National Bureau of Statistics said that market demand has not fully recovered, although industrial production has rebounded.
The data showed that the revenues of major industrial companies decreased by 1.3% on an annual basis.
The Chinese Bureau of Statistics added that the decline in revenue was greater than the decline in costs, which affected the overall corporate profits. pressure on corporate profits.
As industrial production continued to recover, the government said electricity demand increased, pushing electricity industry profits up 53.1 percent, continuing the rapid growth trend. With the order of production and life returning to normal, the profits of industrial enterprises will gradually recover, the bureau said.
Abdel Nasser Menem
