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​Hunan's industrial enterprises see profit increase

​By Zhang Junmian
​China.org.cn, 02 09, 2018
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Profits of industrial enterprises above designated size in Hunan Province hit 193.09 billion yuan (US$30.17 billion) in 2017, a 24. 3 percent increase from 2016, according to statistics released by the Hunan Provincial Bureau of Statistics on Feb. 3, Hunan Daily reports.

The growth was the fastest in the last six years, 3.3 percentage points higher than the national average.

The main business income of these enterprises, defined as industrial businesses with annual revenue of more than 20 million yuan (US$3.13 million), reached 3.95 trillion yuan (US$617.19 billion) in 2017, a year-on-year increase of 12.4 percent, 4.8 percentage points higher than that of 2016.

The main business profit margins were 4.89 percent, 0.59 percentage points more than that of 2016, reversing the declining trend over the past four years running.

All major industrial sectors saw a sound growth momentum in 2017. Businesses above designated size in 39 major sectors made profits and 29 major sectors posted profit growth over 2016. 

The most prominent profit growth was reported by the following five sectors: special equipment manufacturing, ferrous metal smelting and rolling, chemical raw materials and chemical products manufacturing, non-metallic mineral product manufacturing, and agricultural and sideline food processing. They boosted the profit growth of major industrial enterprises by 16.7 percentage points.

The State-owned and State-holding enterprises have greatly improved their efficiency. These enterprises reaped 37.42 billion yuan (US$5.85 billion) in profits in 2017, up 58.5 percent over 2016, a growth which is 57.7 percentage points and 37.3 percentage points faster than that of 2015 and 2016.

Joint-stock enterprises, foreign-funded enterprises and corporations with funds from Hong Kong, Macao and Taiwan registered profit growth of more than 20 percent on average. 


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