Auto production as China's most profitable sector

Auto manufacturing is not the largest industrial sector in the Chinese economy but it generated far more profit than any other industry in China. [Photo / cnautonews.com]

Auto manufacturing is not the largest industrial sector in the Chinese economy but it generated far more profit than any other industry in China, according to the National Bureau of Statistics.

The auto industry was the fourth-largest industrial sector in China by revenue in the first half of this year, trailing the iron and steel, chemicals and communications equipment sectors.

But it topped all 41 industrial sectors in China in profit generation, with earnings of 233 billion yuan ($38 billion).

Auto industry profits accounted for 9 percent of the total income realized by all industrial sectors in China during the period.

It was significantly above the profit of 203 billion yuan achieved by the oil and natural gas extraction sector, the second most profitable industrial sector in the Chinese economy.