Profits of major industrial enterprises in East China’s Anhui province rose 19.6 percent year on year in the first five months of this year, according to the Anhui Provincial Bureau of Statistics.
Industrial firms with annual turnover over 20 million yuan ($3.17 million) reaped 79.25 billion yuan in profit between January and May, up 19.6 percent from the same period a year ago.
In May alone, their profits stood at 14.58 billion yuan, representing a year-on-year increase of 33.7 percent.
Manufacturers were the major profit-makers. The manufacturing sector earned 70.34 billion yuan of profits in the Jan-May period, up 16.7percent year on year.
The competitive automobile industry, however, experienced a year-on-year drop of 48.3 percent in profit.
Communication and electronic equipment manufacturing also posted a 42.6 percent decline. That indicates urgency for the province’s information technology industry to transform from low-end processing-oriented development to the integration of research, development and manufacturing.