Dec.28,2010(SHMET)--The profits of major Chinese industrial enterprises in the first 11 months of the year grew 49.4 percent year-on-year to 3.88 trillion yuan ($588.2 billion), the National Bureau of Statistics (NBS) said Monday.
The enterprises' core business revenue rose 31.8 percent year-on-year to 62.4 trillion yuan in the period, a statement posted on the NBS statement said.
Enterprises whose annual core business revenue is no less than 5 million yuan are included in the survey.
The profits of state-owned and state-controlled enterprises rose 59.1 percent year-on-year to 1.2 trillion yuan while those of collective-owned increased 34.6 percent to 68.9 billion yuan.
Of the 39 industries surveyed, 38 reported profit growth in the Jan-Nov period.
The ferrous-metals mining and smelting industry reported a 110-percent increase in year-on-year profit while the petroleum and natural-gas exploration industry's profits rose 65.7 percent.
Profits of chemical fiber producers jumped 120 percent. Profits of the ferrous metal smelting and pressing industry rose 58.1 percent. Profits of the non-ferrous smelting and pressing industry climbed 82.1 percent.
Profits of producers and suppliers of electricity and heat rose 74.5 percent. Profits of oil, coke and nuclear fuel processors increased 1.1 times from the year earlier period.
At the end of November, the enterprises' accounts receivable totaled 6.5 trillion yuan, up by 22.4 percent year-on-year.Edited by SHMET