Chinese industrial companies with annual business revenue of more than CNY 20 million (US$ 3.2 million) earned total profits of CNY 1.76 trillion from January to April, up 10% year-on-year, but the growth rate was down 0.1 percentage points from that of the first three months, said the National Bureau of Statistics.

In the first four months, profits of private firms rose the most by 13.8% year-on-year to CNY 571.76 billion.

State-owned and state-holding industrial enterprises reached CNY 471.6 billion in profits, up 2.6% year-on-year.

Combined profits of foreign-funded enterprises and companies with funds from Hong Kong, Macao and Taiwan stood at CNY 422.3 billion in the first four months, up 12.7% year-on-year.

Joint-stock enterprises took in total profits of CNY 1.04 trillion in the first four months, up 9.1% year-on-year.

By sector, industrial enterprises in the mining industry reached profits of CNY 221.29 billion in the first four months, down 16% year-on-year.

Companies in the manufacturing sector saw 14-percent year-on-year growth to hit CNY 1.40 trillion in the period.

Of the total 41 industrial sectors, 30 rose, one was flat and ten dropped in the first four months from the same period last year.

The total profits of textile industry rose 12.1%, while that of the garment and accessories industry rose 10.8%. The total profits of the chemical fiber industry reached CNY 5.6 billion, up by 11.6% year-on-year.

Source: China Textile Leader Express