In January-October of this year, the ferrous metals smelting and rolling sector in China recorded a gross profit of 105.32 billion yuan ($14.8 billion), compared with a gross loss of 23.32 billion yuan recorded in the same period last year, as announced by the National Bureau of Statistics of China (NBS) on November 27.
The gross profit of the automotive sector for the period was 389.46 billion yuan ($54.9 billion), an increase of 4.4 percent year-on-year.
At the same time, the ferrous metals mining and processing sector, the metalworking sector, and the railway, shipping, aerospace, and other transportation equipment manufacturing sector recorded gross profits of 38.18 billion yuan ($5.4 billion), 132.58 billion yuan ($18.7 billion), and 112.6 billion yuan ($15.9 billion) in the first ten months., which is 22.9%, 3.3% and 32% more year-on-year, respectively.
During this period, the combined gross profit of large and medium-sized industrial enterprises in China amounted to 5.95 trillion yuan ($0.84 trillion), an increase of 1.9 percent year-on-year.
$ 1 = RMB 7,0779
