Major industrial firms in Anhui province saw stronger profit growth in the first two months of 2018, the Anhui Provincial Bureau of Statistics said Wednesday.
Industrial companies with each annual revenue of more than 20 million yuan (about $3.2 million) reported profits of 31.1 billion yuan between January and February, up 13.9 percent from the same period a year ago, the bureau said in a statement.
In terms of the profit growth rate, the province was ranked 19th in the country and 5th in the Central China region.
Among the 39 industries surveyed, 27 posted year-on-year profit growth in the Jan-Feb period.
Building material, steel, chemical, power and equipment makers reported new profits of 1.7 billion yuan, 790 million yuan, 460 million yuan, 390 million yuan, 280 million yuan, respectively. They together accounted for 94.3 percent of the province’s additional profits, contributing to 13.2 percentage points of its growth rate.
Large and medium-sized enterprises collectively registered 17.2 billion yuan in profit in the first two months, representing a 19.2 percent increase from a year earlier, higher than the 12 percent increase posted by small- and medium-sized enterprises.
The manufacturing sector reported 3.4 billion yuan of newly-added profits, or 89.1 percent of the province’s total.
Chuzhou saw industrial profits rise by 900 million yuan, or 23.7 percent of the provincial total. The city was followed by Ma’anshan and Anqing, which reported new profits of 780 million yuan and 490 million yuan, making up 20.5 percent and 12.8 percent of the province’s new industrial profits, respectively.