Chinese textile industry's profit falls by 20.3% YoY in Jan-Jul 2023

09 Sep '23

2 min read

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Insights

The total profits of industrial enterprises in China above the designated size reached 3,943.98 billion yuan between January and July this year—down by 15.5 per cent year on year (YoY).
The profit of the manufacturing industry was 2,769.42 billion yuan during the period—down by 18.4 per cent YoY.
The textile industry's profit fell by 20.3 per cent YoY in the period.

The total profits of industrial enterprises in China above the designated size reached 3,943.98 billion yuan between January and July this year—down by 15.5 per cent year on year (YoY) and a fall of 1.3 percentage points narrower than that between January and June, according to official statistics.

The profit of the manufacturing industry was 2,769.42 billion yuan during the seven-month period—down by 18.4 per cent YoY.

State-holding enterprises saw a profit of 1,380.59 billion yuan, a YoY decrease of 20.3 per cent.

The profit of share-holding enterprises was 2,883.56 billion yuan during the seven-month period—down by 16.6 per cent YoY. Enterprises funded by foreign investors and investors from Hong Kong, Macao and Taiwan saw a total profit of 935.57 billion yuan—down by 12.4 per cent YoY; private enterprises saw a profit of 1,022.66 billion yuan—down by 10.7 per cent YoY.

The Chinese textile industry’s profit decreased by 20.3 per cent YoY in the January-July period.

From January to July, the revenue of industrial enterprises above the designated size was 73.22 trillion yuan—a decrease of 0.5 per cent YoY, an official press release said.

At the end of July, the assets of industrial enterprises above the designated size totaled 161.40 trillion yuan, a YoY increase of 6.5 per cent.

Fibre2Fashion News Desk (DS)

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