Official data points to a sizeable decline in the profits of China’s large-scale industrial enterprises in 2019, with the noteworthy exception of domestic private concerns.
The profits of industrial enterprises above designated size in China totalled 6.19955 trillion yuan in 2019, for a YoY decline of 3.3%.
Of these firms state-owned share controlled enterprises posted total profits of 1.63555 trillion yuan, for a YoY decline of 12.0%, and joint-stock enterprises saw total profits of 4.52839 trillion yuan, for a YoY decline of 2.9%.
Foreign and Hong Kong, Macau or Taiwan investor companies saw total profits of 1.558 trillion yuan, for a decline of 3.6%.
Privately run industrial enterprises above designated size were the only group to buck the trend, with total profits of 1.81819 trillion yuan in 2019, for a rise of 2.2%.
“Enterprises above designated size” (规模以上企业) is a statistical term used in the People’s Republic of China to refer to industrial enterprises with annual main business revenue of 20 million yuan or more.
China’s mining sector saw total profits of 527.53 billion yuan in 2019, for a YoY rise of 1.7%, while the manufacturing sector’s profits were 5.19039 trillion yuan,n for a decline of 5.2%.
Power, thermal, gas and water saw profits o 481.63 billion yuan, for a rise of 15.4%.