In 2022, among 41 industrial sectors in China, 21 saw a year-on-year rise in gross profit, while 19 saw a decline, and one sector turned from a loss into a profit, as announced by China’s National Bureau of Statistics (NBS) on January 31.

In 2022, the ferrous metal smelting and rolling sector reported a total profit of 36.55 billion Yuan (5.4 billion US dollars), down 91.3% year on year, and 3.2% slower than the pace of decline recorded in the January-November period.

The auto sector reported a total profit of 531.96 billion Yuan ($78.8 billion) in 2022, up 0.6 per cent year on year, up 0.3 per cent from the rate of increase recorded in the first 11 months of last year.

Meanwhile, the ferrous metal mining and processing sector, metallurgy manufacturing sector, railway, freight, aviation and other transportation equipment manufacturing sector reported total profits of 59.49 billion Yuan ($8.8 billion), 206.57 billion Yuan ($30.6 billion) and 76.87 billion Yuan ($11.4 billion), down 22.0%, down 10.5% and up 44.5% year-on-year, respectively.

In 2022, the total gross profit of large and medium-sized industrial enterprises in China reached 8.40385 trillion Yuan ($1.24 trillion), down 4 per cent year on year.

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