9,374.20 TL BIST 100 BIST 100
4.34 CNY CNY CNY
31.10 $ USD USD
€33.71 EUR EUR
0.13 CNY CNY/EUR CNY/EUR
26,590.00 TL Interest Interest
81.25 $ Fossil Oil Fossil Oil
22.84 $ Silver Silver
3.88 $ Copper Copper
118.72 $ Iron Ore Iron Ore
394.00 $ Ship Dismantling Ship Dismantling
2,032.54 TL 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

Explosion at Tosçelik granule factory

Sunday, February 25, 2024

Minister Tunç announced whether the '25 percent' limit on rents will be extended

Sunday, February 25, 2024

UAE invests $35 billion in Egypt

Sunday, February 25, 2024

The US imposes sanctions on 93 entites, including Türkiye: Here are 16 targeted companies from Türkiye

Saturday, February 24, 2024

Steel sales in Germany increased around 74 percent in January

Thursday, February 22, 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