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人人書 > 雜誌 > Performance of Listed Firms Shows Positive Changes In China’s Economy

Performance of Listed Firms Shows Positive Changes In China’s Economy

時間:2024-10-20 11:59:15

AworkshopforsteelproductsinQian鈥檃n,northChina鈥檚HebeiProvince.ThecityhasbeenmakingbigstridesincuttingexcessivesteelproductioncapacityandupgradingtheindustryXINHUAThestrongperformanceofChineselistedcompaniesinthefirsthalfoftheyearofferedaglimpseintothepositivechangesandstrengthofthecountry鈥檚economy.

ListedcompaniesontheA-sharemarketwererequiredtofiletheirsecond-quarterreportswiththeShanghaiandShenzhenstockexchangesbeforetheendofAugust.

Thecombinedrevenueofalllistedcompaniesonthemarketstoodat20.81trillionyuan($3trillion)inthefirsthalf,whilenetprofitswerecloseto2trillionyuan($292.6billion),bothrisingbymorethan10percentyearonyear,newdatafromtheboursesshowed.

FirmslistedinShanghaisawrevenueandprofitgrowthratesof11percentand14percentrespectively,whilecompanieslistedinShenzhengrewat17.24percentand16.86percent.

Asthecountrymovedtoenhancesupportfortherealeconomy,Shanghai-listedcompaniesintherealeconomyreportedrevenuegrowthof13percentandprofitgrowthof25percent,muchfasterthanthe7-percentrevenueandprofitgrowthoffinancialcompaniesinthecity.

Firmsintherealeconomycontributed41percenttothenetprofitofcompaniesontheShanghaibourse,up4percentagepointsfromthepreviousyear.

TheChinaBankingandInsuranceRegulatoryCommission(CBIRC)saidinAugustthatithadencouragedbanksandinsurancecompaniestoincreasefundingtomeetthefinancingdemandsoftherealeconomy.

Thecommissionurgedbankingandinsuranceinstitutionstomakefulluseofthecurrentfavorableconditionsofabundantliquidityanddecliningfinancingcoststoraisetheirfinancingsupportfortherealeconomy.

Inthefirsthalfoftheyear,Shanghailistedcompaniesintherealeconomyreportedtotalfinancingofaround4.5trillionyuan($658.9billion),up9percentyearonyear,withthemajoritycomingfromthebankingsystem.

Thecentralbankwillraisethecapacityandwillingnessoffinancialinstitutionstoservetherealeconomytocreateamoderatefinancialenvironmentforsupply-sidestructuralreformandhigh-qualitydevelopment,accordingtothecentralbank鈥檚second-quarterreport.

Thankstothesupply-sidestructuralreform,thecrudeoil,steelandnon-ferrousmetalsectorsallexperiencedbreathtakinggrowthinrevenueandprofit.

ThenetprofitofsteelcompanieslistedinShanghaisurged134percentyearonyearinthefirsthalfoftheyear,partlyduetothecountry鈥檚firmstanceoneliminatingexcessproductioncapacity.

Inthefirstsevenmonthsof2018,Chinacutoutdatedcrudesteelcapacityby24.7milliontons,completingmorethan80percentofthisyear鈥檚capacity-cuttargetof30milliontons,accordingtothelatestdatafromtheNationalDevelopmentandReformCommission.

ThenetprofitofthecrudeoilandnonferrousmetalsectorsontheShanghaiboursebothsurgedby75percentyearonyear,theShanghaiStockExchangesaid.

OntheShenzhenbourse,957companiesinnewenergy,high-endequipmentmanufacturingandnewmaterialssectorsgrewmorethan20percentinbothrevenueandprofits.

China鈥檚economyexpanded6.8percentyearonyearinthefirsthalfoftheyear,abovetheannualtargetof6.5percent.

ThisisaneditedexcerptofanarticleoriginallypublishedbyXinhuaNewsAgencyCopyeditedbyLaurenceCoultonCommentsto
   

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