Chinese industry sees lower growth of profits in May ( 2003-06-25 10:42) (Xinhua)
The growth of profits of Chinese industrial enterprises in the first five
months of the year was 12. 9 percentage points lower than in the period of
January-April, official figures show.
A monthly report released by the National Bureau of Statistics (NBS) Tuesday
shows industrial enterprises reaped 291.82 billion yuan (35.3 billion US
dollars) in total profits from January to May, 112.6 billion yuan or 62.8
percent more than the same period of last year.
The NBS said the growth in industrial profits had remained relatively high
despite the slowdown in May.
An earlier NBS report showed that the top three growth industries +
automobiles, machine making and telecommunications equipment manufacturing + had
their production affected by the severe acute respiratory syndrome (SARS) crisis
in May.
However, the total sales of industrial enterprises surged 27.3 percent to
5,016 billion yuan in the first five months of the year.
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