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Chinese businesses involved in the extractive industry saw an increase in profits of 88.1 percent to 1.124 trillion yuan ($156.9 billion) during the same period, while businesses in the manufacturing industry saw a 13.4 percent decline in profits to 4.07 trillion yuan ($569 billion) in the first eight months of 2022.
The revenue of businesses involved in the generation, transmission, and distribution of electricity, heat, and gas decreased by 4.9% to 323.01 billion yuan ($45.07 billion).
Sales increased in just 16 of the 41 industries, while 25 of them suffered reductions.
The statistics office also calculated that, compared to the same period in 2021, the profits of large state-owned industrial businesses increased by 5.4 percent in January through August. Private enterprises' profits fell by 8.3% while those of joint-stock companies climbed by 0.8%.
source: cgtn.com
The revenue of businesses involved in the generation, transmission, and distribution of electricity, heat, and gas decreased by 4.9% to 323.01 billion yuan ($45.07 billion).
Sales increased in just 16 of the 41 industries, while 25 of them suffered reductions.
The statistics office also calculated that, compared to the same period in 2021, the profits of large state-owned industrial businesses increased by 5.4 percent in January through August. Private enterprises' profits fell by 8.3% while those of joint-stock companies climbed by 0.8%.
source: cgtn.com
