BEIJING, May 30 (Xinhua) – China’s business developments last week are as follows:
China’s major industrial companies ’profits experienced accelerated growth during the first four months of this year as the country’s economic recovery consolidates further, official data showed on Thursday.
Industrial enterprises with annual trade revenue of at least 20 million yuan (about US $ 3.12 million) saw their combined profits increase 106 percent year-on-year in the January-April period to more than 2, 59 trillion yuan, according to data from the National Statistics Office (NBS) showed.
Compared to the first four months of 2019, the figure represented an increase of 49.6 percent. The average growth rate for the past two years stood at 22.3 percent, according to NBS data.
BENEFITS OF EMPs
The combined profits of China’s state-owned enterprises (SOEs) soared 240% from a year ago to 1.36 trillion yuan in the first four months of 2021, official data showed on Friday.
During the period, the profits of centrally managed state-owned enterprises increased 160 percent year-on-year to 961.08 million yuan, according to the Ministry of Finance.
SOEs saw their total revenue rise 32.2% year-on-year to about 22.22 trillion yuan.
ODI NO FINANCER
China’s non-financial outflow direct investment (ODI) fell 5.2% year-on-year in the first four months of the year, official data showed on Thursday.
According to the Ministry of Commerce, the ODI amounted to 222.87 million yuan during the period.