2009-04-05

Profit made in the large-scale industries of Hunan province in the first two months this year is significant over the previous year. According to the data from the Industry Department of Provincial Statistical Bureau, the earnings in the main business of the large-scale industries reached 128.596 billion yuan in the first two months, a year-on-year growth of 18.6% , the net profit after the losses totaled 4.84 billion yuan, an increase of 188% over the previous year. The main causes for the rapid growth lies in the fact that the disaster of blizzard last year lowered the profit by 79.9%, irrespective of the electric power and petroleum industry which bore serious losses, the growth then is 23.9%.

Most of the profitable enterprises made increase in profit and the state-owned enterprises (SOEs) changed the situation of deficit. The profit made by the SOEs is 1.876 billion yuan compared with a loss of 352 million last year.

Among the 38 types of enterprises, 60% of them gained profits and 2 changed the deficit situation. The top 5 in profit-making are the tobacco industry, the processing industry of agricultural and sideline products, coking and the processing industry of nuclear fuel, the manufacturing of electric mechanism and equipment as well as the manufacturing of chemical materials and products. The 5 industries realized a total profit of 3.606 billion yuan.

Source: Xiaoxiang Morning Herald