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China’s April industrial output up 9.3%
May 27, 2013, 7:07 am

The headquarters of the state-owned China National Offshore Oil Corp. (CNOOC) [AP]

The headquarters of the state-owned China National Offshore Oil Corp. (CNOOC) [AP]

Major Chinese industrial firms saw their combined profits rise 9.3 per cent year on year in April, slowing from the 12.1 per cent rise seen during the first quarter, official data said Monday.

The profits of industrial companies with annual revenues of more than 20 million yuan ($3.24 million) hit 436.68 billion yuan in April, the National Bureau of Statistics (NBS) said in a statement.

In the first four months, their profits rose 11.4 per cent year on year to 1.61 trillion yuan.

Private enterprise led growth, with combined profits up 17.9 per cent year on year in the first four months.

In contrast, state-run firms reported the slowest growth rate of 2.7 per cent during the period.

Profits in the petroleum and natural gas extraction businesses retreated 7.9 per cent year on year in the first four months.

Source: Agencies

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