The automotive sector recorded a gross profit of RMB. In the first three months, this figure amounted to 78.35 billion dollars (11.4 billion dollars), which is 17.7 percent less than last year.
At the same time, the ferrous metals mining and processing sector, the metal production sector, as well as the railway, shipping, aerospace and other transport equipment production sector recorded gross profits of 10.99 billion yuan (1.6 billion US dollars), 23.94 billion yuan (3.5 billion US dollars) and 29.56 billion yuan (4.3 USD billion) in the period from January to March of this year, which is 24.5 percent higher, a decrease of 11.9 percent and an increase of 16.7 percent year-on-year, respectively.
During the specified period, the total gross profit of large and medium-sized industrial enterprises in China amounted to 1.69604 trillion yuan (0.25 trillion US dollars), an increase of 15.5 percent year-on-year.
The steel industry was one of the few industries that went from profit to loss in the first three months of this year, indicating that the steel industry faced structural difficulties during this period. The main contradiction remained the imbalance between supply and demand: production could not be effectively reduced, while demand continued to decline due to the difficult situation of the real estate sector.
1 dollar = 6.8579 yuan
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