9,132.30 TRY BIST 100 BIST 100
4.86 CNY CNY CNY
34.21 USD USD USD
37.41 EUR EUR EUR
0.13 CNY CNY/EUR CNY/EUR
43.92 TRY Interest Interest
77.12 USD Fossil Oil Fossil Oil
30.55 USD Silver Silver
4.43 USD Copper Copper
105.04 USD Iron Ore Iron Ore
375.00 USD Shipbreaking Scrap Shipbreaking Scrap
2,875.93 TRY Gold (gr) Gold (gr)

China's industrial companies started this year with low profits

In the first two months of this year, the profits of China's industrial companies decreased by 23 percent compared to the same period last year. In the same period, there was a 36 percent decrease in the profits of foreign industrial companies.

China's industrial companies started this year with low profits

A sharp retreat was observed in the profits of industrial companies, with the fact that there was not yet a complete recovery regarding the harsh Kovid measures in the industrial sector in China and the prices were on a downward trend.

According to the data of China's National Bureau of Statistics, a 22.9 percent decrease was observed in the profits of industrial companies in the first two months of the year compared to the same period of the previous year. The profits of foreign companies, on the other hand, decreased by 35.7 percent.

In the same period, the profits of private industrial companies decreased by 19.9 percent, while the rate of decline in public companies was 17.5 percent.

The profits of industrial companies declined by 4 percent in the whole of 2022, which passed under the shadow of harsh Kovid measures in the country.

Sun Xiao of the National Bureau of Statistics said in his assessment of the data that although industrial production is starting to recover, market demand has not fully recovered. Sun pointed out that the decrease in the revenues of the companies was more than the decrease in the costs.

SocGen China Economist Michelle Lam also stated that industrial companies have not yet reflected their costs in prices, as demand in the market has not yet fully recovered.

Comments

No comment yet.

Only +plus subscribers can access this content.

SUBSCRIBE now to share your thoughts on the markets and get more comments.
SUBSCRIBE If you already have an account Sign In

Most read news

India's visionary businessman Ratan Tata passed away

Thursday, October 10, 2024

Türkiye-Ukraine Free Trade Agreement published in official gazette

Saturday, October 5, 2024

Outokumpu Mexinox faces delivery delays after flooding halts production

Thursday, October 3, 2024

Fortescue introduces electric graders powered by Zero battery system

Thursday, October 3, 2024

Gerdau announces $240 million investment in solar energy project

Wednesday, October 2, 2024
Follow List
Expand
Your watch list is empty

Add your favorite commodities for quick access and don't miss the latest price change news.


There are no news categories you follow
Edit Notification Preferences
E-bulletin subscription
Sign up to receive the latest news and daily iron prices by e-mail and sms
Become a Plus Subscriber Now!
Try it free for 3 days!
Subscribe Now
Neutral Prices
Be informed
Provincial Iron Prices
Comments and Analysis
Subscribe Now