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在线翻译:
szdaily -> Business
Industrial profits surge most in nearly 6 yrs
    2017-October-30  08:53    Shenzhen Daily

PROFITS for China’s industrial powerhouses see the biggest spike in nearly six years in September as a crackdown on air pollution sparked fears of winter supply shortages and caused a sharp increase in prices of finished goods like steel and copper.

Sustained earnings growth will give China’s policymakers more room to restructure State-owned enterprises, which dominate the industrial landscape and account for a hefty portion of the country’s corporate debt.

Industrial profits in September rose 27.7 percent from a year earlier to 662.18 billion yuan (US$99.46 billion), accelerating from a 24 percent jump in August, the National Bureau of Statistics (NBS) said on its website Friday.

That was the sharpest monthly gain since December 2011, when profits leapt 31.5 percent.

The NBS attributed the September surge to stronger growth in production and sales and higher prices for manufactured goods, as well as a pickup in earnings in sectors such as electricity, alcohol and electronics.

“We predict the industrial sector will remain on a steady, improving trajectory in the fourth quarter,” Zheng Lixin, a spokesman for the industry ministry, told a media briefing.

For the first nine months of the year, the firms notched up profits of 5.58 trillion yuan, a 22.8 percent jump from the same period last year and up a touch from the January-August period.

Industrial firms’ liabilities increased 6.7 percent in September year on year, compared with a rise of 6.4 percent in the first eight months of the year.

Market watchers had expected solid September earnings after producer prices rose by a higher-than-forecasted 6.9 percent year on year, boosted by strong demand for building materials.

Most analysts have maintained those price gains and industrial profits would start to moderate in coming months as measures to cool the heated housing market and a government crackdown on riskier lending starts to bite.

But commodity prices got a fresh leg up in recent weeks as the government pressed ahead with efforts to reduce winter smog, urging major northern industrial cities to slash steel output ahead of the official winter heating season.

The change has spurred fears of shortages and increased steel prices, but is having the opposite effect on steelmaking raw materials such as iron ore and coking coal, which are sliding on worries about a supply glut.

China’s steel output dropped in September from a record high in August as mills cut production in line with the government’s campaign for clearer skies.

(SD-Agencies)

 

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