Profits of Industrial Enterprises Rise 5.5%

Editor:Sharon Lee
Source:enghunan.gov.cn
Updated:2016-07-04 14:59:43
On July 1, the Statistical Bureau of Hunan Province and Hunan Economic and Information Technology Commission jointly released a report stating that the profits of core business of industrial enterprises above designated size (enterprises with an annual sales over 20 million yuan) reached 126.9306 billion yuan, a year-on-year rise of 7.8 percent and 3 percentages higher than that of the same period of previous year. The profits of industrial enterprises above designated size increased 5.5% to 55.539 billion yuan, ranking 14th in terms of growth rate in China.

Most industries in Hunan gained profits. Concerning 39 branches of industry above designated size in Hunan, 37 achieved profits and 24 saw year-on-year profit growth from Jan. to May. The chemical materials and chemical products manufacturing industry, petroleum processing and coking industry, nuclear fuel processing industry, and automobile industry were profitable, helping fuel Hunaní»s profits growth of 5.5%. The profit of tobacco industry dropped 21.1%.

The profits of non-public enterprises saw a steady growth. From Jan. to May, the profits of non-public enterprises of Hunan reached 46.704 billion yuan, up by 9.6% and 0.2 percentage higher than that of the previous four months and helping fuel Hunaní»s profits growth of 7.7%.

The profits of small and medium-sized enterprises (SMEs) increased significantly. From Jan. to May, the profits of medium-sized enterprise above designated size increased 7.1% to 13.977 billion yuan; the profits of small-sized enterprises grew 18.4% to 31.355 billion yuan. SMEs helped promote Hunaní»s profit growth of 9.2%.