China’s industrial profits declined gradually in the first seven months of the year

In the first seven months of this year, industrial enterprises above designated size in 22 regions except Beijing, Inner Mongolia, Hunan, Guangdong, Anhui, Hainan, Chongqing, Yunnan, and Tibet accounted for 77.2% of their main business income and 78.6% of total profits. The industry realized a profit of 1.1107 trillion yuan, a year-on-year decrease of 17.3%, a decrease of 3.8 percentage points from January to June.
Among the 39 industrial sectors, profit growth in 14 industries rebounded, 9 industries declined more than in the first 6 months, and profits in 4 industries increased. Among them, the rubber industry's profits rose by 34.3% year-on-year, an increase of 19.8 percentage points over the first six months; general equipment manufacturing rose by 3.9 percent, an increase of 3.6 percentage points; oil mining industry realized a profit of 81.33 billion yuan, a year-on-year decrease of 71.1%, a decrease Decrease by 5.0 percentage points over the first six months; the steel industry realized a profit of 29.8 billion yuan, a decrease of 77.3%, a decrease of 7.7 percentage points; the nonferrous metals industry realized a profit of 17.84 billion yuan, a decrease of 63.9%, a decrease of 2.9 percentage points; the electronics industry realized profits 27.65 billion yuan, a decrease of 43.5%, a decrease of 5.9 percentage points; the chemical fiber industry from the 4.6% drop in January-June to 1.7% growth in January-June; transportation equipment manufacturing industry from a drop of 1.1% to 5.9%.
The main business income of 22 regions in the industry achieved 21,404.3 billion yuan, an increase of 0.9% year-on-year, 0.5 percentage points higher than that in the first six months.
At the end of July, industrial receivables of the 22 regions totaled 3371.1 billion yuan, an increase of 9.6% year-on-year, an increase of 0.5 percentage points from the end of June. The capital of finished products was 1,640.8 billion yuan, a year-on-year increase of 0.4%, which was a 2.4 percentage point drop from the end of June.

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