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BEIJING Cheap Darren Fells Jersey , May 27 (Xinhua) -- China's major industrial firms posted double-digit profit growth in the first four months of this year, the National Bureau of Statistics (NBS) said Saturday.

 

Industrial companies with annual revenues of more than 20 million yuan (about 2.92 million U.S. dollars) reported profits of 2.28 trillion yuan in the first four months, a 24.4-percent increase from one year earlier, the NBS said in a statement.

 

The profit growth has softened from a 28.3-percent increase in the first three months, but is still the highest January-April level since 2012.

 

In April alone Cheap Damarious Randall Jersey , profits of major industrial firms rose 14 percent year on year to 572.78 billion yuan.

 

NBS statistician He Ping said the slowdown was "reasonable" after the breakneck growth in previous months, noting that there was still good momentum in industrial profit growth.

 

The industrial sector, which accounts for about one-third of China's GDP, started to pick up last year after profit declines in 2015, helped by government efforts to cut overcapacity and a recovery in the property sector.

 

Among the 41 industries surveyed Cheap Jarvis Landry Jersey , 38 posted year-on-year profit growth during the first four months.

 

Citing improving industrial indicators, He remains upbeat on the overall industrial performance, saying that there has been stronger support from consumer-goods manufacturing and high-tech manufacturing sectors, as well as a reduced debt burden.

 

In April, new profits from consumer-goods manufacturing accounted for 21.6 percent of the overall profit increase Cheap Desmond Harrison Jersey , up 9.8 percentage points from the March level, while high-tech manufacturing accounted for 23.2 percent of the total, up 19 percentage points from the previous month.

 

In the four months, major industrial firms also saw profitability of their primary business edge up 0.53 percentage points to 6.04 percent. By the end of April, their debt-asset ratio dropped 0.6 percentage points to 56.2 percent.

 

However Cheap Genard Avery Jersey , He pointed out that sectors like steel-making, auto-manufacturing and chemicals had witnessed significant declines in profit growth due to falling industrial price gains, lower production and sales growth and rising costs.

 

Profits from ferrous metal companies dropped 7.8 percent year on year in April, compared with a 1.3-fold increase in March, while auto makers reported a 6.7 percent drop in profits Cheap Terrance Mitchell Jersey , down from a 18.7 percent rise in March.

 

He also attributed the overall growth decline to a slower rise in finished products and raw materials prices.

 

China's producer inflation continued to ease in April as retreating commodity prices pushed down factory-gate prices. The producer price index, which measures costs of goods at the factory gate, rose 6.4 percent year on year last month, compared with a 7.6 percent growth in March.

 

The statistician cautioned that a faster growth in producer purchasing prices, which climbed 9 percent in April Cheap Chris Hubbard Jersey , than that of factory-gate prices could lead to higher costs in midstream and downstream industries.

 

Rising financial expenses could also push up funding costs, he warned. In April, financial expenses of major industrial companies rose 4.2 percent year on year, accelerating from 3 percent in March.

 

China's value-added industrial output, an important economic indicator Cheap Greg Joseph Jersey , expanded 6.5 percent year on year in April. For the first four months, industrial production expanded 6.7 percent year on year, according to previous NBS data.

 

Upcoming Dragon Boat Festival marked across China

 

Party held on trains to celebrate upcoming Duanwu Festival

 

Successive downpours hit Bangkok

 

Water park attract many citizens in SW China's Chongqing

 

Aerobatics aircraft perform at air show in C China's Henan

 

Upcoming Dragon Boat Festival marked across China

 

Bottlenose dolphins relocated in NE China's Heilongjiang

 

China's Xiamen to hold 9th BRICS Summit

 

NAIROBI, Sept. 21 (Xinhua) -- Kenya has moved to forestall its withdrawal as the hosts of the 2018 Africa Home Nations Championships (CHAN) at Saturday's Confederation of African Football Executive Committee meeting after the country's Government approved the 42 million U.S. dollar budget on Thursday.

 

"Cabinet approved an allocation of 42 million dollars to cover the hosting of the Africa Nations Championships (CHAN), one in a growing list of events Kenya has bid for as part of showcasing our nation's talent and promoting tourism Cheap Duke Johnson Jr Jersey ," the presidency said in a statement following a Cabinet meeting.

 

The financial guarantee from the State was the key requirement by CAF to allow the 16-team, second-tier continental football competition open to home grown players to be held in the country from January 11 to February 4 , 2018.

 

Last week, the final inspection team from continental governing body left the country without a word on the destiny of the tournament with three of the four venues earmarked for the tournament lagging in preparations.

 

Former Football Kenya Federation (FKF) President, Sam Nyamweya Cheap Emmanuel Ogbah Jersey , then said on Monday it would be a 'miracle' of Kenya is given the go ahead to stage the competition last held in Rwanda in 2016.

 

Xi meets Singaporean PM on advancing ties

 

China Focus: Beijing-Shanghai railway speed rises to 350 kph

 

Autumn senery of Huma County in NE China's Heilongjiang

 

Zhoushan Int'l Sand Sculpture Festival held in E China's Zhejiang

 

Highlights of 10th China Acrobatics Golden Chrysanthemum Awards

 

Wildlife paradise: Changtang National Nature Reserve in China's Tibet

 

PLA Navy frigates introduced to visitors at Port of Antwerp, Belgium

 

Aviation Expo China 2017 held in Beijing

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