This year, reports
of new economic victories by China's key industries have been pouring
in. The profits of the textile and metallurgical industries have increased
substantially, becoming an important impetus to the national economy.
The coal and sugar industries successfully turned losses into profits.
All this proves that the economy in China's key industries has taken
a favorable turn.
According to a report by the XinHua News Agency, the State Economic
and Trade Commission declared that under the unified plan of the Party
Central Committee and the State Council, the badly-performing state-owned
textile enterprises were first to put forward reforms last year, and
emerged from their difficulties with profits of RMB 10.7 billion in
the first half of the year. Of this, RMB 2.4 billion was generated
by state-owned and state-holding enterprises, far more than last year's
RMB 0.9 billion. The revenue of the industry is expected to reach
RMB 20 billion. The dramatic increasing textile exports in the first
half of the year gave fresh impetus to the national export growth.
The pathbreaking textile industry has illuminated a bright path for
SOE reform.
With steel price climbing again, the metallurgical industry emerged
from six years of stagnation with a remarkable increase in profits.
In the first half of the year, the national output of steel was 61.18
million tons, with profits of RMB 5.43 billion. The increase of RMB
1.9 billion in depreciation funds and technological development costs
were also obtained in the year. Economic earnings are expected to
exceed RMB 10 billion.
The sugar industry will shed its poverty this year. Thanks to the
closing of saccharin plants and small sugar factories, and a series
of measures for structural adjustment, the output of sugar in the
first half of the year was brought under control. The three-year fall
of the sugar price ended, and climbed from RMB 2000 per ton at the
beginning of the year to about RMB 3400. Most sugar factories are
now selling at a profitable price. Compared with the same period of
last year, losses were reduced by RMB 1.12 billion and the earnings
of the whole industry are expected to exceed RMB 0.5 billion.
The coal industry is also advancing. By the 15 July, exports amounted
to 28.4 million tons. This not only eased the pressure on the domestic
coal market, but gave a boost to the related railways and seaport
industries, and the comprehensive effect was evident. At the same
time, coal prices have begun to stabilize, and production and business
are now made ordered. |
