Beijing-Sana
Official data issued by the Chinese National Statistics Authority showed today that the profits of major industrial companies in China rose by five percent during the first two months of this year.
According to data reported by Xinhua, industrial companies whose turnover is not less than 20 million yuan, equivalent to 3.14 million US dollars, increased their combined profits to 1.16 trillion yuan during that period.
During the months of January and February, the revenues of these companies rose by 13.9 percent year on year to 14.9 trillion yuan, and among 41 industries, 21 achieved profit growth.
At the end of February, the total assets of these companies amounted to 142.44 trillion yuan, an increase of 10.4 percent year on year, and their total liabilities reached 80.03 trillion yuan, an increase of 10.2 percent.
The ratio of liabilities to assets was 56.3 percent, down 0.1 percentage point year on year.
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