NBS: Profits of Mining and Raw Material Manufacturing Industry Maintain High Growth Rate

SHANGHAI, Sep 28 (SMM) — The profits of the mining and raw material manufacturing industry increased by 1.84-fold and 39.6% year-on-year, respectively, in August, which were well above the average level of industries above designated size, said Zhu Hong, a senior statistician at the Department of Industry of the National Bureau of Statistics (NBS).

The two-year average growth rate was 58.1% and 36.0% respectively, and the growth rate was 24.0 and 4.4 percentage points faster than the previous month.

Driven by the overall high commodity prices, the profit of the coal industry increased by 2.41-fold year-on-year, and the growth rate was 30.0 percentage points higher than the previous month; the profit of the oil and gas extraction industry increased by 2.57-fold year-on-year; the profit of the non-ferrous and chemical industries increased by 98.9% and 66.5% respectively.